{"id":43815,"date":"2021-06-06T09:52:42","date_gmt":"2021-06-06T06:52:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43815"},"modified":"2025-08-31T14:05:01","modified_gmt":"2025-08-31T11:05:01","slug":"el-salvador-plans-to-grant-bitcoin-legal-tender-status","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvador-plans-to-grant-bitcoin-legal-tender-status\/","title":{"rendered":"El Salvador plans to grant Bitcoin legal tender status"},"content":{"rendered":"<p>El Salvador will pass a law that makes the first cryptocurrency a legal form of money in the country. President Nayib Bukele announced this at the Bitcoin 2021 conference, according to <a href=\"https:\/\/bitcoinmagazine.com\/business\/el-salvador-to-declare-bitcoin-as-legal-tender\" target=\"_blank\" rel=\"noreferrer noopener\">Bitcoin Magazine<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Next week I will send to Congress a bill that will make Bitcoin a legal form of payment,&#8221; Bukele said.<\/p>\n<\/blockquote>\n<p>It was reported that his adviser was Jack Mallers, founder of the Strike payments platform, based on the Lightning Network solution <a href=\"https:\/\/u1f987.com\/en\/news\/lightning-network-faster-cheaper-bitcoin-transactions\">Lightning Network<\/a>. He also helped organise the presentation.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;More than 70% of Salvadoran adults do not have a bank account. They are not part of the financial system and asked me to help draft a plan, as they see Bitcoin as a currency of world-class stature,&#8221; Mallers explained.<\/p>\n<\/blockquote>\n<p>According to him, the country is already working with Bitcoin companies and platforms to determine logistical solutions for the transition to cryptocurrency.<\/p>\n<p>El Salvador has used the U.S. dollar since 2001, rather than a national currency.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">June 7, 2021 | 10:01<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Bukele joined Bitcoin supporters who expect the price to reach $100,000. In his Twitter photograph he posted &#8220;laser eyes&#8221;.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Some powerful interests will try to make this historical <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> move fail.<\/p>\n<p>They know what it means if it succeeds.<\/p>\n<p>It will.<\/p>\n<p>\u2014 Nayib Bukele \ud83c\uddf8\ud83c\uddfb (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1401633334481100802?ref_src=twsrc%5Etfw\">June 6, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Powerful interests will try to derail the historic ascent of Bitcoin, because they know what will happen if it succeeds. It will,&#8221; he said.<\/p>\n<\/blockquote>\n<\/div>\n<p>As noted, there are already local communities in the country that have built a Bitcoin economy.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government of El Salvador will pass a law making the first cryptocurrency a legal form of money in the country. President Nayib Bukele announced this during Bitcoin 2021, according to Bitcoin Magazine.<\/p>\n","protected":false},"author":1,"featured_media":43816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1278],"class_list":["post-43815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-el-salvador"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43815"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43815\/revisions"}],"predecessor-version":[{"id":43817,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43815\/revisions\/43817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/43816"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}