Crypto update! THIS country makes Bitcoin legal tender

Lawmakers voted in favor of the move to create a law to adopt bitcoin, despite concern about the potential impact on El Salvador`s program with the International Monetary Fund.

El Salvador has become the first country in the world to adopt bitcoin as legal tender after Congress approved President Nayib Bukele`s proposal to embrace cryptocurrency. With 62 out of 84 possible votes, lawmakers voted in favor of the move to create a law to adopt bitcoin, despite concern about the potential impact on El Salvador`s program with the International Monetary Fund. Bukele has touted the use of bitcoin for its potential to help Salvadorans living abroad to send remittances back home, while saying the U.S. dollar will also continue as legal tender.