El Salvador’s President Nayib Bukele said that if the Bitcoin proposal becomes law in the country, “El Salvador will become one of the most important monetary centers in the world.”
In his post on his Twitter account, Bukele stated that a bill will be submitted to Congress next week to make crypto money Bitcoin legal in the country.
Reminding that he said that Bitcoin should be used 4 years ago, Bukele said, “This is why I am actually fulfilling my campaign promise. If Bitcoin becomes legal, El Salvador will become one of the most important money centers in the world.”
El Salvador will become the first country in the world to officially adopt a digital currency if Congress passes the bill.
Thus, the country is expected to use Bitcoin with the country’s official currency, the US dollar.
Emphasizing that the law will create employment for the people of El Salvador, Bukele said in a statement yesterday, “Next week I will send this proposal to Congress that will turn Bitcoin into legal form in El Salvador. In the short term, this development will create employment and financial participation for thousands of people outside the formal economy. It will help encourage it.”
Stating that El Salvadorans living abroad send 6 billion dollars to their country annually, Bukele noted that they will facilitate sending money thanks to Bitcoin and that more than one million low-income families will benefit from the change.
BITCOIN BECOME A NATIONAL MONEY FOR THE FIRST TIME