Categories: International

El Salvador becomes first country to adopt bitcoin as legal tender

El Salvador has become the first country in the world to grant legal tender status to bitcoin. The use of bitcoin as legal tender will become law in 90 days. El Salvador’s economy heavily relies on remittances and so those who are working abroad can send money back home in bitcoins. The use of bitcoin will be totally optional. It will bring financial inclusion, investment, tourism, innovation and economic development to the country.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Important takeaways for all competitive exams:

  • El Salvador Capital: San Salvador; Currency: United States Dollar;
  • President of El Salvador: Nayib Bukele.
Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Recent Posts

LVM3-M6 Rocket Set to Launch on December 24, Announces ISRO

The Indian Space Research Organization (ISRO) has announced that its LVM3-M6 mission will be launched…

22 mins ago

Which Animal is known as the River Horse? Know About It

Rivers and freshwater areas are home to many powerful and unique animals. Some of them…

46 mins ago

RBI Board Sanctions Overhaul of Deposit Insurance Framework

An important reform aimed at strengthening India’s banking system the Central Board of Directors of…

57 mins ago

PGIMER Chandigarh Retains Top Spot as India’s Best Health Technology Assessment Institute

The Postgraduate Institute of Medical Education and Research (PGIMER) Chandigarh, has once again emerged as…

2 hours ago

Which Colour has the Longest Wavelength?

Light is all around us, and it is made up of many different colours. Each…

2 hours ago

Finance Ministry Unveils New Logo for Regional Rural Banks

To strengthening rural banking in India the Ministry of Finance has unveiled a new common…

2 hours ago