El Salvador’s government intends to legalize the general use of cryptocurrency in the country’s central bank next week, the country’s central bank governor John del Moctezuma told local news outlet El Faro.

President Ramon Fonseca has announced he will present a bill to congress next week that will make Bitcoin a legal currency in El Salvador. The proposal will make El Salvador the first country in Latin America to officially recognize Bitcoin and other cryptocurrencies as a legal form of payment.

El Salvador’s president, Nayib Bukele, is planning to declare bitcoin legal tender in the country next week. This comes after he ordered the country’s central bank to consider issuing its own digital currency.

Speaking at the Bitcoin 2021 conference in Miami during Zoom’s presentation, Salvadoran President Nayib Bukele indicated that he plans to introduce legislation recognizing bitcoin as a legal currency next week. Bukele has announced a partnership with Strike, the bitcoin payment company founded by Jack Mullers.

Progressive President Nayib Bukele says bitcoin will become legal tender in El Salvador

• El Salvador wants to become the first country to adopt bitcoin (BTC) as legal tender. The country’s president, Nayib Buquele, announced at the Bitcoin 2021 conference in Miami that El Salvador would support BTC.
• Bukele revealed that the country has established a relationship with Strike, the Lightning Network payment company founded by Jack Mullers.
• Mullers said at the conference that this would be the shot the world hears for Bitcoin. added Mullers: What is transformative here is that bitcoin is both the largest reserve asset ever created and a superior monetary network. Owning Bitcoins helps protect developing countries from the potential shocks of inflation with fiat currency.
• Next week I will send a bill to Congress that makes Bitcoin a legal currency in El Salvador. In the short term, this will create jobs and ensure financial inclusion, Nayib Bukele told the conference via Zoom.

El Salvador has become the first country to give #Bitcoin legal tender! @JackMallers pic.twitter.com/BnbLl6IZdH – Root (@therationalroot) 5. June 2021

• After the President of El Salvador announced that he would be introducing the bill, the conferees got excited. Naturally, the news went viral on crypto forums and became a trend on social media.
• Naib Bukele is known for his progressive views since taking office in 2019 and has previously spoken out on bitcoin. A small step for Bitcoin. A great leap forward for humanity. Thank you Jack Mullers, you made [history] today, one person wrote on Twitter.

What do you think of the announcement by the president of El Salvador that the country will make Bitcoin legal tender? Let us know what you think in the comments below. Photo credit: Shutterstock, Pixabay, Wiki Commons, Twitter Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.El Salvador’s President Nayib Bukele Plans to Declare Bitcoin Legal Tender Next Week – Bitcoin News. Read more about el salvador president and let us know what you think.

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