On Wednesday, 9 June 2021, El Salvador has passed a law to accept Bitcoin as legal tender, thus becoming the first nation to officially adopt a cryptocurrency.

As per the law, now commodity prices will be shown in bitcoin, and El Salvador citizens can use bitcoin to pay taxes, too. It was also announced that people investing three Bitcoins in country’s economy will be given citizenship.

According to some experts, this could be a breakthrough that the crypto market was waiting for, and it will not be long before we see more countries accepting crypto as legal tender.

As always, M. Target Group specialists remain at your disposal should you require any further information or professional assistance.