El Salvador Walks Back Its Bitcoin Law - Reason.com
Feb 3, 2025 · Four years after becoming the first country to adopt bitcoin as legal tender, El Salvador is taking a step back. The Legislative Assembly has approved changes to the country's Bitcoin Law,...
El Salvador Abandons Bitcoin as Legal Tender After Failed …
Feb 2, 2025 · Bitcoin was never used by most Salvadorans, its modern city was never built, and now it will cease to be legal tender in El Salvador, the first country in the world to adopt it in 2021: a complete failed economic bet by President Nayib Bukele.
El Salvador Ends Bitcoin as Legal Tender — Here’s Why Bitcoin …
4 days ago · The 2021 law in El Salvador made Bitcoin legal tender, meaning it became not just legal but mandatory for transactions. Merchants were required to accept Bitcoin, and the government started collecting payments such as taxes and fees in Bitcoin. To facilitate this, the country launched the Chivo wallet, a government-backed mobile app designed to ...
El Salvador abandons Bitcoin legal tender experiment – media
6 days ago · El Salvador’s Congress has approved a reform revoking Bitcoin’s status as legal tender, in a reversal of the country’s landmark 2021 decision, according to media reports. The amendments to its Bitcoin law come after a loan deal with the International Monetary Fund, which requires that the acceptance of the cryptocurrency be made voluntary ...
El Salvador Reverses Bitcoin Legal Tender Status Under Pressure …
Feb 3, 2025 · El Salvador has reportedly removed the legal tender status of Bitcoin (BTC) after less than four years because of pressure from the International Monetary Fund (IMF).
Bitcoin in El Salvador - Wikipedia
In January 2022, the International Monetary Fund urged El Salvador to cease using bitcoin as legal tender, citing its risk to the country's financial stability, integrity and consumer protection.
El Salvador Is Still Bitcoin Country
4 days ago · Let’s start with some background on the matter. On January 29, 2025, the Legislative Assembly in El Salvador voted to remove bitcoin’s status as legal tender.. This means that businesses in the country no longer have to accept bitcoin (not that this rule was ever strictly enforced while bitcoin was classified as legal currency, as far …
El Salvador Complies With IMF Requirements: Bitcoin Legal Tender …
Jan 31, 2025 · Congress passed a reform that modifies the so-called “Bitcoin Law” in El Salvador to comply with the stipulated requirements in the deal inked with the IMF last year.
In a world first, El Salvador makes bitcoin legal tender
SAN SALVADOR, June 9 (Reuters) - El Salvador became the first country in the world to adopt bitcoin as legal tender after Congress on Wednesday approved President Nayib Bukele’s...
Why is El Salvador Interested in Bitcoin? On June 9th, 2021, El Salvador’s government published in the oficial gazette the legislation making the digital currency Bitcoin legal tender within the country. The legislation went into effect on September 7th, 2021.