El Salvador Makes History as the First Country to Accept Bitcoin as Currency
Governments in certain countries, such as China, have even gone so far as to impose certain restrictions around trading and using cryptocurrency in order to prevent its consumer influencer from growing. But Wednesday, made history by becoming the first country to allow popular cryptocurrency to be legally accepted as a form of currency. 60% of central banks already work on their own digital currenciesThe Bitcoin Law was passed by a “supermajority" in a 62-22 vote by the country’s congress. “El Salvador's proposed Bitcoin Law makes clear in several places that the government will provide resources to ensure that Salvadorans can be trained in the use of Bitcoin and gain access to the technologies (e.g. Bukele also shared that a new Bitcoin mining hub will be built in the country using volcanic energy harvested from a manmade well.