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I'm not familiar with the details of the law - does this imply that Bitcoin is now an official foreign currency?
by SuoDuanDao 5y ago
I'm not familiar with the details of the law - does this imply that Bitcoin is now an official foreign currency?
- gregsadetsky 5y agoI found: https://www.wsj.com/articles/el-salvador-becomes-first-country-to-approve-bitcoin-as-legal-tender-11623234476 https://www.wsj.com/articles/el-salvador-becomes-first-count... El Salvador Becomes First Country to Approve Bitcoin as Legal Tender Designation allows bitcoin, which has struggled as a method of payment because of its high volatility, to be used to pay taxes and obligates business to accept it
- echelon 5y ago> obligates business to accept it That's annoying. So the money you make in a day is suddenly down 15% and takes time to exchange for fiat, meanwhile you're just trying to pay rent, payroll, bills and purchase orders in a timely and efficient manner. Great.
- SuoDuanDao 5y agoI feel like the citizens of El Salvador may have different standards as to what is an acceptable level of volatility in their currency.