El Salvador has become the first nation to approved legislation making the cryptocurrency Bitcoin legal tender. President Nayib Bukele and El Salvador’s Legislative Assembly are credited with making this happen.
“The Bitcoin law is ambitious but simple, furthermore it is well structured to have zero risks for those who do not want to take risks. The government will guarantee the convertibility to the exact value in dollars at the moment of the transaction.” – Nayib Bukele
Many economists predict many other countries will follow suit and generate a similar type of law.