[10/6/21, Source: CoinDesk] El Salvador officially recognizes bitcoin (BTC, +12.97%) as legal tender.
In an early Wednesday vote, a supermajority of the nation’s legislature voted in favor of President Nayib Bukele’s proposal for the Latin American nation to adopt bitcoin. The president intends to sign the bill into law later tonight or early in the morning.
Sixty-two members of the legislature voted in favor of the bill, with 19 opposed and three abstentions.
Bukele provided further details about his vision, pitched as an effort to boost Cryptocurrencies financial inclusion in a country where only 30% of citizens have access to financial services, in a Twitter Space conversation early Wednesday morning hosted by Nic Carter of Castle Island Ventures and Coin Metrics. Users won’t necessarily have to use a government wallet, Bukele said.