The Conundrum Of Bitcoin Legal Tender Laws

The Conundrum Of Bitcoin Legal Tender Laws

The adoption of bitcoin by El Salvador poses an interesting contradiction of freedoms, albeit solved on a secondary level.Nayib Bukele, El Salvador’s laser-eyed President, shocked the world at the Bitcoin 2021 conference in Miami when he announced that bitcoin would become legal tender in his country. A few days later, the "Bitcoin Law” was passed, ushering in a new era for the virtual currency.There is something about the law — mandating that vendors accept bitcoin — that goes against the voluntary “opt-in” ethos of Bitcoin. However, there are key features of the law that many people may....


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