El Salvador President bats for Bitcoin as legal tender
The Hindu
“In the short term, this will generate jobs and help provide financial inclusion to thousands outside the formal economy...” Nayib Bukele said.
El Salvador President Nayib Bukele announced in a recorded message played at a Bitcoin conference in Miami June 6 that next week he will send a proposed legislation to the country’s congress that would make the cryptocurrency legal tender in the Central American nation. The 39-year-old President, who has maintained approval ratings above 90% and made Twitter his preferred way of communicating, characterised it as an idea that could help El Salvador move forward. “Next week I will send to Congress a bill that will make Bitcoin a legal tender in El Salvador,” Mr. Bukele said. “In the short term, this will generate jobs and help provide financial inclusion to thousands outside the formal economy and in the medium and long term, we hope that this small decision can help us push humanity at least a tiny bit into the right direction.”More Related News