El Salvador's legislative assembly has approved legislation making the cryptocurrency Bitcoin legal tender in the country, the first country to do so, just days after President Nayib Bukele made the proposal at a Bitcoin conference. The U.S. dollar will also continue to be El Salvador's currency and no one will be forced to pay in Bitcoin, according to the legislation approved late Tuesday. El Salvador President Nayib Bukele speaks during a news conference in San Salvador on Jan. 6. Other countries in the region, including Venezuela and the Bahamas, have introduced digital currencies, although none had adopted the original cryptocurrency, Bitcoin, itself. The move rekindled memories of the Nov. 30, 2000, decision to dollarize El Salvador's economy, a move made in the middle of the night by the Arena-controlled congress.

Source: CBC News June 09, 2021 15:00 UTC