El Salvador just became the first country to make Bitcoin a legal tender.
The country’s congress voted overwhelmingly in favor of the law.
Now, the cryptocurrency can be used in any transaction, and businesses are required to accept that payment form. The country also has plans to create a major Bitcoin mining operation.
While talking about the decision, the country’s president said,
“It will bring financial inclusion, investment, tourism, innovation, and economic development for our country.”
El Salvador’s President Nayib Bukele has made good on his promise to adopt Bitcoin as legal tender. Officials in the Central American country’s congress voted to accept the cryptocurrency by a majority of 62 out of 84 votes, reports .