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Bitcoin to become legal tender in El Salvador on Sept 7

El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7.

People use Bitcoin in El Zonte Beach in Chiltiupan, El Salvador
Women buy at a store at El Zonte Beach in Chiltiupan, El Salvador June 10, 2021. Picture taken June 10, 2021. REUTERS/Jose Cabezas/Files

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SAN SALVADOR: El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7.

El Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.

(Reporting by Nelson Renteria in San Salvador; Writing by Anthony Esposito; Editing by Christian Schmollinger)

Source: Reuters