Has Any Country Other Than El Salvador Classified Bitcoin As Legal Tender? Find Out

Legalising Bitcoin as legal tender means governments will have to give sovereign backing to the cryptocurrency

On June 9, 2021, El Salvador became the first country to officially classify Bitcoin as a legal currency. Salvadoran President Nayib Bukele had proposed to recognise the world's oldest and arguably the most popular cryptocurrency as legal tender and the country's lawmakers agreed. Bukele said the move would make it easier for Salvadorans abroad to send money home. Terming it “history!”, Bukele had then tweeted, “The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress. 62 out of 84 votes!” The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress.62 out of 84 votes!History! #Btc???????? On August 23, the president said that El Salvador was installing 200 ATMs ahead of adopting Bitcoin on September 7 Many expected that more countries would immediately follow El Salvador's move as curiosity and interest in Bitcoin and other crypto coins like Ethereum and Dogecoin had been rising rapidly.