{"id":43996,"date":"2021-06-09T10:11:35","date_gmt":"2021-06-09T07:11:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43996"},"modified":"2025-08-31T14:59:43","modified_gmt":"2025-08-31T11:59:43","slug":"el-salvador-passes-bill-recognizing-bitcoin-as-legal-tender","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvador-passes-bill-recognizing-bitcoin-as-legal-tender\/","title":{"rendered":"El Salvador passes bill recognizing Bitcoin as legal tender"},"content":{"rendered":"<p>The Legislative Assembly of El Salvador approved a bill recognizing Bitcoin as an official means of payment in the country, on par with the US dollar.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"es\" dir=\"ltr\">Con 62 votos, el pleno legislativo aprueba la <a href=\"https:\/\/twitter.com\/hashtag\/LeyBitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#LeyBitcoin<\/a> con la que El Salvador adopta el <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> como moneda de circulaci\u00f3n legal.<\/p>\n<p>\u00a1<a href=\"https:\/\/twitter.com\/hashtag\/LaNuevaAsamblea?src=hash&#038;ref_src=twsrc%5Etfw\">#LaNuevaAsamblea<\/a> sigue haciendo historia! <a href=\"https:\/\/t.co\/Ur9OQzPvYI\">pic.twitter.com\/Ur9OQzPvYI<\/a><\/p>\n<p>\u2014 Asamblea Legislativa (@AsambleaSV) <a href=\"https:\/\/twitter.com\/AsambleaSV\/status\/1402508029564760064?ref_src=twsrc%5Etfw\">June 9, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The bill was backed by 62 of 84 lawmakers, 17 opposed, one abstained. It will take effect 90 days after publication in the Official Government Gazette.<\/p>\n<p>On June 6, President Nayib Bukele <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-plans-to-grant-bitcoin-legal-tender-status\">announced plans to legalize Bitcoin<\/a> in the country. On June 9, he published the full version of the document, which provides for the use of digital gold to set prices and collect taxes.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I\u2019ve just sent the <a href=\"https:\/\/twitter.com\/hashtag\/BitcoinLaw?src=hash&#038;ref_src=twsrc%5Etfw\">#BitcoinLaw<\/a> to Congress \ud83c\uddf8\ud83c\uddfb <a href=\"https:\/\/t.co\/DljnxsXlyt\">pic.twitter.com\/DljnxsXlyt<\/a><\/p>\n<p>\u2014 Nayib Bukele \ud83c\uddf8\ud83c\uddfb (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1402446890466217985?ref_src=twsrc%5Etfw\">June 9, 2021<\/a><\/p>\n<\/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>&#8216;Any economic agent must accept Bitcoin as a means of payment when it is offered as payment for goods and services,&#8217; the document states.<\/p>\n<\/blockquote>\n<p>Transactions involving digital gold are not subject to capital gains tax, just as with other payments.<\/p>\n<p>El Salvador guarantees instantaneous automatic conversion of Bitcoin into the US dollar, which will remain the base currency of the state. To this end, authorities will launch a $150 million trust fund to purchase the digital asset from the population. The government is also considering holding Bitcoin on the balance sheet.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">The President of El Salvador just confirmed that they will hold $150 million in a trust fund through their development bank.<\/p>\n<p>That will be used to purchase bitcoin from citizens over time.<\/p>\n<p>They are not ruling out the idea of holding bitcoin in their reserves in the near future.<\/p>\n<p>\u2014 Pomp \ud83c\udf2a (@APompliano) <a href=\"https:\/\/twitter.com\/APompliano\/status\/1402503394561073154?ref_src=twsrc%5Etfw\">June 9, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Local communities have already built a Bitcoin economy.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Legislative Assembly of El Salvador approved a bill recognizing Bitcoin as an official means of payment in the country, on a par with the US dollar.<\/p>\n","protected":false},"author":1,"featured_media":43997,"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-43996","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":"68","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43996","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=43996"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43996\/revisions"}],"predecessor-version":[{"id":43998,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43996\/revisions\/43998"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/43997"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}