Bitcoin News

Bitcoin Law has been approved by a supermajority.

Bitcoin Law has been approved by a supermajority

Nayib Bukele, is the president of EI Salvador. Bitcoinbill is on making Bitcoin legal tender. In a tweet spaces conversation, he said that the bill got approved with a supermajority of 64 out of 84 seats.


In addition, he said that the bill would go into effect immediately. Moreover, he clarified the government would allow 90 days for the infrastructure to be put into place.


He also added that accepting Bitcoin would be mandatory for all businesses. In addition, he said to the merchants in the country that they have to take it by law. Moreover, the purpose of this law is to regulate Bitcoin as unrestricted legal tender with liberating power unlimited in any transaction.

List of Protocols

The bill also includes a list of interesting protocols. Protocols such as zero capital gains tax on BTC, tax payments allowed in BTC. Moreover, economic agents must accept BTC as payment when offered by whoever acquires a good or service.


According to the bill, the state must provide the infrastructure that enables Bitcoin users to convert from BTC to USD if need be instant.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.