El Salvador has become the first country in the world to accept Bitcoin as legal tender. The government of El Salvador claimed that the move will give many citizens of the country access to bank services for the first time. In addition, trading in cryptocurrency will help the country save around $400 million in fees that is levied by banks and financial institutions on the money sent home by expats.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The acceptance of Bitcoin as a legal currency by El Salvador follows a law approved by the country’s parliament in June. At the time, the country allowed Bitcoin to be accepted as tender for all goods and services. The bill was approved within 24 hours of being presented to Congress by President Nayib Bukele.
Important takeaways for all competitive exams:
Sarnath, an ancient Buddhist site located in Uttar Pradesh, made it to the UNESCO World…
India’s star weightlifter Mirabai Chanu has won the gold medal in the women’s 48kg category…
Weekly Current Affairs One-Liners Current Affairs 2026 plays a very important role in competitive examinations…
Kargil Vijay Diwas is celebrated on July 26, every year in India in remembrance of…
Pralhad Joshi, a cabinet minister in the Union Government, has been given the additional responsibility…
National News India Launches Electric Boat Pilot on Ganga River India launched the Electric Boat…