The government intends to legalize the income of the population with the help of cryptocurrency.
The Legislative Assembly of the Central American Republic of El Salvador has decided to recognize bitcoin as an official means of payment.
On its Twitter account, the assembly said that the historic decision was taken by 62 votes in favor, 19 against, and two abstentions.
The draft was submitted to the Assembly by the President of El Salvador, Nayib Bukele. According to him, this decision will help to involve the population in legal economic relations, only 30% of which now keep funds in bank accounts.
According to the new law, bitcoin will have to be accepted when paying for goods or services, and all risks for the instability of the cryptocurrency will be assumed by the government of the country. related to the instability of the cryptocurrency exchange rate, the government should cover.
For this purpose, a trust fund of $ 150 million will be created.
According to the law, the seller of the goods, using the funds of the trust, will be able to receive money for the sold goods immediately and in dollars, and will accept payment for services from the buyer in bitcoin.
Con 62 votos, el pleno legislativo aprueba la #LeyBitcoin con la que El Salvador adopta el #Bitcoin como moneda de circulación legal.
¡#LaNuevaAsamblea sigue haciendo historia! pic.twitter.com/Ur9OQzPvYI
— Asamblea Legislativa (@AsambleaSV) June 9, 2021
Local media reports that in the near future, members of the country’s government will meet with representatives of the IMF and discuss further plans.
El Salvador’s recognition of bitcoin as a legal tender affected the value of the cryptocurrency: during trading over the past day, bitcoin rose by 13%, rising above $37,500.
Earlier, Topnews wrote that in the year, the value of bitcoin for the first time in history reached the mark of $ 50,000.