El Salvador offers citizenship to Bitcoin holders, approves Bitcoin as official currency

El Salvador has become the first country to approved Bitcoin as the official currency. The El Salvador Congress on June 9 approved a bill making Bitcoin a legal tender in the country.

El Salvador has become the first country to approved Bitcoin as the official currency. The El Salvador Congress on June 9 approved a bill making Bitcoin a legal tender in the country. The announcement was made by El Salvador President Nayib Bukele through Twitter. He also announced that people who invest Bitcoin in El Salvador will get the country citizenship. People investing three Bitcoins in country's economy will be given citizenship by the government. The bill was passed in El Salvador after getting 62 out of possible 84 votes. “The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out,” the law reads.