El Salvador exempts foreign crypto investors from taxes, while over 500,000 users signed up in its Bitcoin wallet

    El Salvador announced the country is looking to exempt foreign investors from taxes on Bitcoin profits to encourage foreign investment. While “over half a million users” have registered in the country’s Chivo Bitcoin wallet, President Nayib Bukele said. According to Javier Argueta, the legal advisor to El Salvador’s President, the policy aims to encourage entrepreneurs…

    El Salvador becomes the world-first country adopted Bitcoin

    On Tuesday, El Salvador became the first country to adopt Bitcoin as legal tender, although this radical monetary experiment could pose risks to the emerging economy. On the first day, it already suffered teething problems when the government had to unplug a digital wallet to cope with demand. September 7, 2021, will be forever etched…

    World Bank rejects to assist El Salvador’s Bitcoin implementation

    The World Bank has rejected El Salvador’s request for help on the implementation of Bitcoin as a legal tender. After it comes, Bitcoin hovered below $40,000 on Thursday morning. In Wednesday’s announcement, the World Bank stated it could not assist El Salvador’s Bitcoin implementation because of environmental and transparency drawbacks. “We are committed to helping…

    Bitcoin Law makes El Salvador the first country to recognize cryptocurrency as legal tender

    El Salvador has become the first country to officially recognizes Bitcoin as legal tender. A supermajority of lawmakers in the Latin American country’s Legislature voted by the Bitcoin Law. In a Wednesday vote, El Salvador’s Congress voted by a supermajority in favor of the president’s proposal for the Central American nation to adopt Bitcoin as…

    El Salvador To Become The World’s First Country To Declare Bitcoin As Legal Tender

    The president of El Salvador, Nayib Bukele, announced that the country’s government would declare Bitcoin as legal tender, alongside the U.S. dollar. In a video broadcast to a multiday conference Miami Bitcoin 2021, the president announced El Salvador’s partnership with Strike, a digital wallet company, to build the country’s modern financial infrastructure using Bitcoin technology….