El Salvador : The First Country that adopts bitcoin as legal tender
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El Salvador : The First Country that adopts bitcoin as legal tender

Rabu, 09 Juni 2021


Bitcoin is one of currencies of El Salvador since 2021/gettyimages.in


How-to - El Salvador has become the first country to adopt bitcoin as 'second currency' . 

Prices can now be shown in bitcoin, tax contributions can be paid with the digital currency, and exchanges in bitcoin will not be subject to capital gains tax.

Even if Bitcoin is known for wild price swings that have prompted critics to suggest it is not suitable to be an effective currency.

The exchange rate with the U.S. dollar "will be freely established by the market," according to the proposed law. El Salvador's current official currency is the U.S. dollar.

The law also says that the state will "promote the necessary training and mechanisms so that the population can access bitcoin transactions."