El Salvador prepares to legalize bitcoin

by in Cryptocurrency News

El Salvador

El Salvador could be the first country in the world to recognize bitcoin as legal tender. The corresponding bill was prepared by the team of the President of this Latin American state, Naib Bukele.

The text of the document will be published this week. At the Bitcoin 2021 conference in Miami, Jack Mullers of Zap announced that his startup is participating in the implementation of El Salvador's plan to legalize cryptocurrency.

If the bill goes to the parliament of the country, then experts do not doubt its quick approval, since the Bukele party controls this body. El Salvador may become the first country in the world to lawfully recognize bitcoin technology.

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In this Latin American country, cryptocurrency is very popular among the population. Last year it became known that many residents of the village of El Zonte do not use bank cards. They prefer to pay for goods and services with bitcoin.

The President of El Salvador, in his address to the nation, stressed that the recognition of BTC will not only make life easier for many citizens but also create conditions for the modernization of the entire payment infrastructure of the state.