6/9, 8:35 AM (Source: TeleTrader)
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El Salvador becomes first country with Bitcoin as legal tender

El Salvador has become the first country in the world to adopt Bitcoin as legal tender, country's President Nayib Bukele (pictured) announced on Wednesday.

The legislation, passed by the Salvadoran Congress with a 62-22 majority, will make the cryptocurrency recognized by law as a means to settle a public or private debt, or meet a financial obligation.

"The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out," the law read.

Breaking the News / BU