El Salvador's President Nayib Bukele said on Saturday that he will send a bill to Congress next week to put out legal tender for Bitcoin in the Central American country.
El Salvador will become the first in the world to legally accept the well-known cryptocurrency, If the bill is passed.
“In the short term, this will create jobs and help provide financial inclusion for thousands outside the formal economy,” Bukele said in a Miami conference. El Salvador is working with the mobile payments app "Strike" to roll out Bitcoin technology.
“Adopting a digital currency as a legal tender provides El Salvador with the most secure, efficient and globally integrated open payment network in the world,” said Jack Mallers, founder of the mobile payments app.
"More than 70% of the active population in El Salvador does not have a bank account. They are not in the financial system," Mallers added.
https://twitter.com/nayibbukele/status/1401327906178191366?s=20
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