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posted by martyb on Thursday June 10, @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.

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  • (Score: 0) by Anonymous Coward on Thursday June 10, @01:44PM (1 child)

    by Anonymous Coward on Thursday June 10, @01:44PM (#1143879)

    How does one shutdown a mixer if it is also a whole country?

  • (Score: 2) by maxwell demon on Saturday June 12, @12:24AM

    by maxwell demon (1608) on Saturday June 12, @12:24AM (#1144423) Journal

    By installing a new government there. Would not be the first time for the US to do such a thing.

    The Tao of math: The numbers you can count are not the real numbers.