El Salvador leads world in adopting bitcoin as official currency

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Reuters

By Anthony Esposito and Nelson Renteria SAN SALVADOR (Reuters) – El Salvador on Tuesday became the first country to adopt bitcoin as legal tender, a real-world experiment proponents say will lower commission costs for billions of dollars sent from abroad but which critics warned may fuel money laundering. The change means businesses should accept payment in bitcoin alongside the U.S. dollar, which has been El Salvador’s official currency since 2001 and will remain legal tender. President Nayib Bukele, who has pushed for adopting the cryptocurrency, says it will help Salvadorans save about $400…

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