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El Salvador Becomes First Nation to Adopt Bitcoin as Legal Tender

The government in this Central American country used its "supermajority" to pass a law making bitcoin legal tender alongside the dollar. Citizens can use the cryptocurrency to pay for goods and services, and make tax contributions. Under the "Bitcoin Law," exchanges in bitcoin will also not be subject to capital gains tax. The move, however, could negatively impact El Salvador's request for international aid.

El Salvador Becomes First Nation to Adopt Bitcoin as Legal Tender

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