El Salvador Just Became The First Country To Accept Bitcoin As Legal Tender

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El Salvador’s President Nayib Bukele (shown here at a news conference in May 2020) spearheaded efforts to make Bitcoin legal tender in his country.

Yuri Cortez/AFP via Getty Images


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Yuri Cortez/AFP via Getty Images


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Tougher Rules Are Coming For Bitcoin And Other Cryptocurrencies. Here’s What To Know

Critics of the experiment — including some of Bukele’s political opponents — wore T-shirts to parliament on Tuesday to express their opposition to the new Bitcoin law.

But it’s not just the economy. Bukele’s government is also facing pushback from the international community over a recent court decision that was widely seen as unconstitutional.

On Friday, judges appointed by El Salvador’s parliament, which is dominated by Bukele’s party, concluded that the president could run for a second term in 2024, according to CNN. Experts say that is barred by the country’s constitution.

The U.S. Embassy in El Salvador said in a statement that the decision «undermines democracy» and «further erodes El Salvador’s international image as a democratic and trustworthy partner in the region.»

  • bitcoin
  • El Salvador

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