El Salvadors law making bitcoin legal tender means banks face higher risks including of violating rules against money laundering and terrorism financing rating agency Fitch said in a report on. MIAMI El Salvador is looking to introduce legislation that will make it the worlds first sovereign nation to adopt bitcoin as legal tender alongside the US.
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This latest effort builds on the countrys fascination with Bitcoin.
El salvador bitcoin. Earlier this week El Salvador became the first country in the world to consider the cryptocurrency legal tender. Strike a mobile payments app that launched in El Salvador in March said in a statement that it welcomed the legislation and was working with the country to make using bitcoin.
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