El Salvador has stripped bitcoin of its legal tender status less than four years after being the first country to adopt it, driven by President Nayib Bukele.

This change is part of the reform of the Bitcoin Law, approved this Wednesday (29/1) by the Legislative Assembly, controlled by the government.

With the modification of six articles and the repeal of three of the pioneering legislation sanctioned in September 2021, the crypto asset ceases to be an official currency.

Its use is now restricted to transactions between citizens and private companies, and its acceptance is no longer mandatory, becoming optional. #Biticoin