SAN SALVADOR — The Congress of El Salvador has approved a law that will classify Bitcoin as legal tender in the Central American country, its president said, making it the world’s first nation to adopt a cryptocurrency.
“The #BitcoinLaw has just been approved by a qualified majority” in the legislative assembly, President Nayib Bukele tweeted after the vote late Tuesday.
“History!” the president added.
He said a majority of 62 out of 84 lawmakers approved the bill, which he proposed last week.
The law passed with the support of Bukele’s allies despite minority opposition parties — who had criticized the speed of the vote — refusing to back it.
Before the v…
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