This article needs to be updated. Please help update this article to reflect recent events or newly available information.(February 2024)
Bitcoin Law
Legislative Assembly of El Salvador
Territorial extent
El Salvador
Enacted
8 June 2021[1][2][3]
Effective
7 September 2021[4][5]
Status: In force
This article is part of a series about
Nayib Bukele
Political offices
Mayor of Nuevo Cuscatlán (2012–2015)
Mayor of San Salvador (2015–2018)
President of El Salvador (2019–present)
Presidency Bukelism – Cabinet – Nuevas Ideas
Political crises
2020
2021
COVID-19 pandemic
Bitcoin
law
city
Territorial Control Plan
War against gangs
CECOT
War against corruption
Opinion polling
International trips
Elections
2012
2015
2019
2024
Media gallery
v
t
e
The Bitcoin Law[6] (Spanish: Ley Bitcoin, pronounced[ˈlejbiðˈkojn])[7] was passed by the Legislative Assembly of El Salvador on 8 June 2021, giving the cryptocurrency bitcoin the status of legal tender within El Salvador after 7 September 2021.[8] It was proposed by President Nayib Bukele. The text of the law states that "the purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out".[6]
^Aleman, Marcos (9 June 2021). "El Salvador makes Bitcoin legal tender". Associated Press. Archived from the original on 13 June 2021. Retrieved 16 June 2021.
^"El Salvador aprueba el uso de Bitcoin como moneda de intercambio". Agencia EFE (in Spanish). 9 June 2021. Archived from the original on 12 June 2021. Retrieved 16 June 2021.
^"El Salvador first country to approve bitcoin as legal tender". Agence France Presse. 9 June 2021. Archived from the original on 10 June 2021. Retrieved 16 June 2021.
^Renteria, Nelson (26 June 2021). "Bitcoin to become legal tender in El Salvador on Sept 7". Reuters. Archived from the original on 25 June 2021. Retrieved 25 June 2021.
^Cite error: The named reference wsj20210907 was invoked but never defined (see the help page).
^ abKharpal, Arjun (9 June 2021). "El Salvador is one step closer to making bitcoin legal tender after proposing new law". msn.com. CNBC on MSN.com. Archived from the original on 9 June 2021. Retrieved 9 June 2021.
^Diario Oficial, numero 110, tomo n° 431, 9 de junio de 2021 Archived 12 June 2021 at the Wayback Machine, Official Journal of El Salvador, National Press of El Salvador
^Gorjón, S. (2021). The role of cryptoassets as legal tender: the example of El Salvador. Banco de Espana Article, 35, 21.
The BitcoinLaw (Spanish: Ley Bitcoin, pronounced [ˈlej biðˈkojn]) was passed by the Legislative Assembly of El Salvador on 8 June 2021, giving the cryptocurrency...
El Salvador became the first country in the world to use bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El...
Bitcoin is a cryptocurrency, a digital asset that uses cryptography to control its creation and management rather than relying on central authorities...
The Bitcoin protocol is the set of rules that govern the functioning of Bitcoin. Its key components and principles are: a peer-to-peer decentralized network...
or other symbols. Bitcoin (abbreviation: BTC; sign: ₿) is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions...
Some Bitcoin ATMs offer bidirectional functionality, enabling both the purchase of Bitcoin and the sale of Bitcoin for cash. In some cases, Bitcoin ATM...
Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin. Bitcoin Cash is a spin-off or altcoin that was created in 2017. In November 2018, Bitcoin...
Bitcoin City is a planned smart city project in La Unión, El Salvador. The planned city is intended to be a tax haven, and to use geothermal energy to...
The Bitcoin scalability problem refers to the limited capability of the Bitcoin network to handle large amounts of transaction data on its platform in...
notable commercial activities related to bitcoin. Common services are cryptocurrency wallet providers, bitcoin exchanges, payment service providers and...
Bitcoin forks are defined variantly as changes in the protocol of the bitcoin network or as the situations that occur "when two or more blocks have the...
pseudonymous person or persons who developed Bitcoin, authored the Bitcoin white paper, and created and deployed Bitcoin's original reference implementation. As...
2012). "Bitcoin: The Cryptoanarchists' Answer to Cash". IEEE Spectrum. Around the same time, Nick Szabo, a computer scientist who now blogs about law and...
The Bitcoin Foundation is an American organization that was formerly a nonprofit corporation. It was founded in September 2012 in an effort to restore...
The environmental effects of bitcoin are significant. Bitcoin mining, the process by which bitcoins are created and transactions are finalized, is energy-consuming...
Bitcoin was designed by its pseudonymous inventor, Satoshi Nakamoto, to work as a currency, but its status as a currency is disputed. Economists define...
Bitcoin Unlimited (BU) is a full node implementation for the bitcoin and Bitcoin Cash networks. The Bitcoin Core client, from which Bitcoin Unlimited...
investor in Bitcoin, Bitcoin-related startups and an early promoter of Bitcoin, and sometimes known as Bitcoin Jesus. He now primarily promotes Bitcoin Cash...
Bitcoin Gold (BTG) is a cryptocurrency. It is a hard fork of Bitcoin, the open source cryptocurrency. It is an open source, decentralized digital currency...
Fort Knox of bitcoin". The Verge. Retrieved 28 December 2016. "Bitcoin is 10 years old today - here's a look back at its crazy history (BITCOIN)". Business...
of bitcoin rose to US$1.06, then fell to US$0.67 that April. This spike was encouraged by several Slashdot posts about it. In June 2011, bitcoin's price...
The Lightning Network (LN) is a "layer 2" payment protocol built on the Bitcoin blockchain and those of other cryptocurrencies. It is intended to enable...
secure hash algorithm 1 (SHA-1). Proof of work was later popularized by Bitcoin as a foundation for consensus in a permissionless decentralized network...
Bitcoin Beach) became one of the first locales in the country to accept Bitcoin as a payment method, and inspired the country's adoption of Bitcoin as...
one of Nayib's economic advisors and played a role in the adoption of bitcoin as legal tender in El Salvador. Yusef Alí Bukele Ortez was born on 22 September...
generator. Such a failure in random number generation caused users of Android Bitcoin Wallet to lose their funds in August 2013. To ensure that k {\displaystyle...