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:
India has started the new Cell Broadcast Alert System to quickly warn the people during…
Have you every wondered how big cities in India are run smoothly? Who looks after…
Indian men's badminton team have delivered the sensational performance at the Thomas Cup 2026 and…
Mr. Bharat Khera has assumed charge as the Secretary of the Ministry of Micro, Small…
The Ministry of Information & Broadcasting has appointed Mr. Ashutosh Gowariker as the Festival Director…
Shri Anugraha Narayana Das has assumed charge as the Controller General of Defense Accounts (CGDA).…