El Salvador may make the cryptocurrency a legal means of exchange, would become the first country to do so.
President Nayid Bukele made the announcement on Saturday, proposing legislation to formally
- “Next week, I will send to Congress a bill that makes Bitcoin legal money”
- this would “allow the financial inclusion of thousands of people who are outside the legal economy”
Bukele was speaking at the Bitcoin 2021 conference in Miami, Florida via a video message.
- El Salvador government is yet to give details of the bill
- will require approval from a parliament dominated by the president’s allies