El Salvador Makes Bitcoin Legal Tender As President Looks To Volcanos To Mine Crypto
On Wednesday, Bukele’s bitcoin Bill passed with 62 of 84 votes. With the Bill’s passage, bitcoin will be instantly convertible into USD and will have the same legal standing. Prices can now be displayed in bitcoin, merchants must accept payment in bitcoin, tax contributions can be paid in bitcoin, and bitcoin exchanges will no longer be subject to the country’s capital gains tax. “The state is under the obligation to promote and protect private enterprise, generating the necessary conditions to increase national wealth for the benefit of the greatest number of inhabitants,” the Bill reads....