Bitcoin Law

Bitcoin Law
Legislative Assembly of El Salvador
Territorial extentEl Salvador
Enacted8 June 2021[1][2][3]
Effective7 September 2021[4][5]
Status: In force
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The Bitcoin Law[6] (Spanish: Ley Bitcoin, pronounced [ˈlej biðˈkojn])[7] was passed by the Legislative Assembly of El Salvador on 8 June 2021, giving the cryptocurrency bitcoin the status of legal tender within El Salvador after 7 September 2021.[8] It was proposed by President Nayib Bukele. The text of the law states that "the purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out".[6]

  1. ^ Aleman, Marcos (9 June 2021). "El Salvador makes Bitcoin legal tender". Associated Press. Archived from the original on 13 June 2021. Retrieved 16 June 2021.
  2. ^ "El Salvador aprueba el uso de Bitcoin como moneda de intercambio". Agencia EFE (in Spanish). 9 June 2021. Archived from the original on 12 June 2021. Retrieved 16 June 2021.
  3. ^ "El Salvador first country to approve bitcoin as legal tender". Agence France Presse. 9 June 2021. Archived from the original on 10 June 2021. Retrieved 16 June 2021.
  4. ^ Renteria, Nelson (26 June 2021). "Bitcoin to become legal tender in El Salvador on Sept 7". Reuters. Archived from the original on 25 June 2021. Retrieved 25 June 2021.
  5. ^ Cite error: The named reference wsj20210907 was invoked but never defined (see the help page).
  6. ^ a b Kharpal, Arjun (9 June 2021). "El Salvador is one step closer to making bitcoin legal tender after proposing new law". msn.com. CNBC on MSN.com. Archived from the original on 9 June 2021. Retrieved 9 June 2021.
  7. ^ Diario Oficial, numero 110, tomo n° 431, 9 de junio de 2021 Archived 12 June 2021 at the Wayback Machine, Official Journal of El Salvador, National Press of El Salvador
  8. ^ Gorjón, S. (2021). The role of cryptoassets as legal tender: the example of El Salvador. Banco de Espana Article, 35, 21.