El Salvador to Adopt Cryptocurrency

What’s happening? El Salvador is moving to adopt a cryptocurrency. It has acquired 200 bitcoins with a value total of $10 million.

Why is this important? More countries are moving toward adopting a form of cryptocurrency. El Salvador will accept bitcoin for goods, services and for taxes.

How will this be important? The El Salvador government’s bitcoin wallet Chivo, comes pre-loaded with $30 worth of the currency for users who register with a Salvadoran national ID number.

@businessweek

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