El Salvador Becomes First Country to Adopt Bitcoin as Legal Te | Read Less - Know All
El Salvador Becomes First Country to Adopt Bitcoin as Legal Tender
El Salvador has become the first country to adopt bitcoin as legal tender. Lawmakers in the Central American country’s Congress voted by a “supermajority” in favor of the Bitcoin Law, receiving 62 out of 84 of the legislature’s vote. Prices can now be shown in bitcoin, tax contributions can be paid with the digital currency, and exchanges in bitcoin will not be subject to capital gains tax.
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