Stories
Slash Boxes
Comments

SoylentNews is people

posted by martyb on Thursday June 10 2021, @07:35AM   Printer-friendly
from the [bit]coin-of-the-realm? dept.

Bitcoin now legal tender in El Salvador, first nation to adopt cryptocurrency:

On Wednesday, El Salvador’s president signed into law a proposal to adopt bitcoin as legal tender, making the Central American nation the first in the world to officially use the cryptocurrency.

The new law says that companies must accept bitcoin as a form of payment, and the government will allow people to pay taxes with it as well. The exchange rate with the dollar will be set by the market, and exchanges from dollars to bitcoin won’t be subject to capital gains tax. The law was passed by a supermajority vote of the legislature, with 62 of 84 deputies assenting.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 1) by khallow on Thursday June 10 2021, @11:46AM (2 children)

    by khallow (3766) Subscriber Badge on Thursday June 10 2021, @11:46AM (#1143850) Journal
    The vast majority of banks by assets controlled don't control any currency. And perhaps this will help us get past the myth that countries will get invaded for not using the petrodollar.
  • (Score: -1, Flamebait) by Anonymous Coward on Thursday June 10 2021, @12:57PM

    by Anonymous Coward on Thursday June 10 2021, @12:57PM (#1143864)

    Get past the myth of bankers (Jews) being behind the invasions at least. Banks and monetary policy are just another tool, they can be used to make war as well as peace. The petrodollar stuff is just another political delineation, a financial signal of alignment.

  • (Score: 2) by mcgrew on Thursday June 10 2021, @04:43PM

    by mcgrew (701) <publish@mcgrewbooks.com> on Thursday June 10 2021, @04:43PM (#1143935) Homepage Journal

    The vast majority of banks by assets controlled don't control any currency.

    I could not parse that sentence, could you reword it?

    --
    mcgrewbooks.com mcgrew.info nooze.org