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Salvadoran legislature approves legalizing Bitcoin as legal tender

Salvadoran legislature approves legalizing Bitcoin as legal tender

San Salvador, Jun 9 (Prensa Latina) The Legislative Assembly of El Salvador on Wednesday approved with 62 votes for and 19 against the legalization of Bitcoin, which will circulate as a legal tender, alongside the US dollar.
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During a session that ended early Wednesday, the ruling majority prevailed over the reluctance of the opposition forces that demanded a more in-depth study of the initiative presented on Tuesday evening by President Nayib Bukele.

The regulation stipulates that the use of mentioned cryptocurrency will be ‘unrestricted with liberating power, unlimited in any transaction and any title that public or private individuals or legal entities require carrying out.’

The 14 legislators from the right-wing Nationalist Republican Alliance (ARENA) party, the four from the Farabundo Marti National Liberation Front (FMLN) and the only representative from Nuestro Tiempo (Our Time) political party voted against.

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