El Salvador Becomes the First Country in the World to Approve Bitcoin as Legal Tender (Update)
[Asia Economy Reporter Byunghee Park] El Salvador has become the first country to officially approve the cryptocurrency Bitcoin as legal tender, CNBC reported on the 9th (local time).
The El Salvador Congress approved Bitcoin as legal tender on the same day. The bill was submitted by President Nayib Bukele.
President Bukele announced on his Twitter that he had submitted the bill to Congress, and that out of 84 votes, 62 were in favor, passing the bill with an overwhelming majority. He also called it a historic day on Twitter.
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Earlier, on the 5th, President Bukele announced via video at the 'Bitcoin 2021 Conference' held in Miami that he would submit a bill to Congress to approve Bitcoin as legal tender. He explained, "In the short term, it will help create jobs and provide financial access to those outside the formal economy."
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