The corresponding law was adopted by the Parliament of El Salvador. To create an infrastructure that will allowaccept payments in cryptocurrency, the document takes three months.
Bitcoin became legal tender inEl Salvador as a result of the adoption of the relevant law by the country's parliament. President Nayib Bukele announced that he would sign the document in the near future, after which it would come into force “immediately”. 90 days will be given to create infrastructure for payments in cryptocurrency.
The adoption of the beat, the world's first country to legalizebitcoin as a means of payment will become mandatory in the country. The head of El Salvador stressed that the cryptocurrency will be legal tender along with the US dollar.
Also, the government plans to create an officialcrypto wallet, and will store $ 150 million worth of bitcoins in it in a trust fund based on the Development Bank of El Salvador to ensure the automatic and instant exchange of BTC for the US dollar.
</p></p>Read this:
El Salvador's president wants to make bitcoin legal tender
The world's first country wants to make bitcoin legal tender
Latin American e-commerce giant Mercado Libre starts accepting cryptocurrencies as a means of payment
G7: Bitcoin failed as a means of payment and savings
Argentines began to buy bitcoin. The country is on the verge of default
The Bank of Russia and the FSB have agreed to ban the use of cryptocurrencies as a means of payment