Bitcoin Legal Tender

The Central African Republic has passed a law creating a legal framework for cryptocurrencies, with a particular focus on Bitcoin. The legislation is designed to create a welcoming environment for the country’s financial sector while making money transfers more efficient. The Benefits of Bitcoin in Africa The Bill Governing Cryptocurrency in the Central African Republic was passed unanimously by the National Assembly on April 21st. It’s been entrusted to Mixed Commission on Economy, Finance and Planning/Equipment and Communications chairman Guy…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,861 trillion. Bitcoin is up by roughly 6% after a good week. Ethereum increased by almost 11% during the past seven days. XRP gained almost 3% in value in the past week. Almost all altcoins are trading in the green and still enjoying a favorable period. The DeFi sector added roughly $5 billion to…

The International Monetary Fund (IMF) has re-stated its disapproval of El Salvador’s Bitcoin Law.  President Nayib Bukele responded with mockery over social media – as with all of his nation's critics. Even Edward Snowden called out the institution.  IMF Wags its Finger on Bitcoin The institution made its grievances public in a statement from its website on Tuesday. Though it recognized El Salvador’s economic solid recovery after the pandemic, it doesn’t think the Bitcoin law is helping:  “The adoption of…

Another nation may be on the way to adopting a Bitcoin standard, making the cryptocurrency legal tender. Lord Fusitu'a – a former Tongan MP – recently said that he expects his country to pass a Bitcoin legal tender law by the end of the year. The bill is intended to model El Salvador’s Bitcoin law, which made it an official currency in September. Is Tonga Next? Fusitu’a offered his prediction in a tweet on Friday, outlining the steps to put…

Ted Cruz – Republican Senator and Representative of Texas – wants to impose an El Salvador-esque mandate on Capitol Hill. He has put forward a brand new legislative proposal that would require all of its vendors to accept crypto payments. Also, Cruz has proven extremely supportive of cryptocurrencies before. And, his proposal could help other politicians become more familiar with the technology. Ted Cruz’s Proposal Two days ago, the Senator submitted the ‘‘Adopting Cryptocurrency in Congress as an Exchange of…

Ethereum’s founder just called The Bitcoin Law “reckless” and opposed to freedom. But it’s the most practical way forward for the well-being of El Salvador. The Article 7 Controversy On June 9th, 2021, El Salvador made world history by passing a digital currency, Bitcoin, as legal tender alongside the US Dollar. President Nayib Bukele and Strike developer Jack Mallers announced the law at the twelve thousand-person Bitcoin conference. The crowd received the news with thunderous applause, and congress cast an…

June 9, 2021, marks the first move to make history in Bitcoin's timeline. El Salvador passed a bill where 62 of 84 congressional voters would make Bitcoin a legal tender. Fast forward to September 7, and El Salvador became the first country to make Bitcoin a legal tender. In this article, we shall look into what it means for Bitcoin to be a legal tender in detail; What is a Legal Tender? "This note is legal tender for all debts, public and…

The U.K.'s Post Office is offering a route for customers to purchase volatile cryptocurrencies. Soon users can buy crypto through its identity-verification service, EasyID. Through the verification app, customers of the EasyID app can purchase crypto vouchers from the decentralized exchange (DEX) Swarm Markets. Users verifying their identity through the app receive access Swarm's official website. Additionally, they can acquire cryptocurrency vouchers using their phones. Users can redeem vouchers for cryptos like Bitcoin and Ethereum on the Swarm platform. EasyID…