EL SALVADOR ADOPTS BITCOIN
EL SALVADOR ADOPTS BITCOIN
The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.
Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”
The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.
Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”
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