El Salvador wants to make bitcoin a legal tender

San Salvador. El Salvador may become the first country in the world to make bitcoin a legal tender.

Thus, President Nayib Bukele tells local time on Saturday that next week he will send a bill to make the cryptocurrency a legal tender in the country to Congress.

“In the short term, it will create jobs and help include thousands of people outside the formal economy,” Bukele said in a video shown at the Bitcoin 2021 conference in Miami, Florida.

It writes the news agency Reuters.

Strike, a mobile payment app launched in El Salvador in March, welcomed the proposal in a statement.

At the same time, Strike states that the company is working with the government to make the use of bitcoin technology a success.

“The adoption of a local digital currency as a legal tender will give El Salvador the most secure, efficient and globally integrated open payment network in the world,” Strikes founder and CEO Jack Mallers told the Miami conference, according to Reuters.

According to Jack Mallers, over 70 percent of the population of El Salvador does not have a bank account.

– They are not in the financial system, he states according to the news agency dpa.

The bill states, among other things, that the legalization of bitcoin as a means of payment aims to “mitigate the negative impact of central banks”.

For this to be possible, it is “necessary to allow a system with a digital currency that cannot be controlled by any central bank”.

According to the DPA, the International Labor Organization (ILO) estimates that six out of ten Salvadorans make a living outside the formal economy of the country.

/ ritzau /

Source: www.berlingske.dk by www.berlingske.dk.

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