Bitcoin Nation removes legal tender status
According to the Spanish website El País on January 30, El Salvador is the first
The country that adopted Bitcoin as a legal tender is now the first country to abandon Bitcoin.
Home. The ruling party-controlled El Salvador Congress has just quietly passed the Bitcoin Law.
The reform of the bill no longer regards Bitcoin as an official currency, and gives the right to use it to users
Decide. The reform comes after nearly two years of pressure from the International Monetary Fund.
OK. IMF Puts "De-Risking Bitcoin" as Approval for El Salvador
In exchange for a $1.4 billion loan that Nayib Bukele’s government badly needs. If Salva
To receive the loan, the government must submit a draft bill before the January 31 deadline.
Carry out reforms.
El Salvador's House of Representatives amended six of the 16 articles in the Bitcoin Act and
Three clauses were repealed. From now on, Bitcoin is no longer considered a currency in El Salvador.
"Currency", the acceptance of Bitcoin will change from mandatory to voluntary, and the Bitcoin Market cannot
Then use it to pay taxes.
According to the poll, although Bitcoin was approved as a legal currency in El Salvador in September 2021,
The new currency was proposed by the British government, but was opposed by 71% of the public.
Bukele's government markets Bitcoin adoption to the world as one of its greatest successes
And promised "economic prosperity and financial freedom" to the people of Salvador. El Salvador also
It is called "Bitcoin Nation", but by the end of 2022, according to the survey, 91.7% of
Salvadorans see their economy as unchanged or even worse.
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