The Legislative Assembly of El Salvador just passed the Bitc...
The Legislative Assembly of El Salvador just passed the Bitcoin law today, making the country the first in the world to recognize Bitcoin as a legal currency.
$Bitcoin(BTC.CC$
$Bitcoin(BTC.CC$
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SEA HedgeOP : El Salvador will grant permanent residency to immigrants who release three bitcoins (about $102,000), President Nayib Bukele said. He also said that the Salvadoran government will launch a Bitcoin wallet for citizens, but that citizens will have the autonomy to choose whether to use it or not. In addition, El Salvador will operate a trust fund that will hold about $150 million worth of bitcoin to offset the volatility of the bitcoin market and ensure that merchants do not have to take risks. However, despite El Salvador's push for cryptocurrencies, Bukele does not intend to go dollar-denominated.