El Salvador: Adopted Bitcoin Law introducing Bitcoin as legal tender
Description
Adopted Bitcoin Law introducing Bitcoin as legal tender
On 8 June 2021, the legislative assembly of El Salvador adopted the Bitcoin Law. The law introduces bitcoin as legal tender of the country. Consequently, all prices may be denominated in bitcoin and even taxes can be paid in bitcoin. Also, according…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
legislature
Government Body
parliament