Bitcoin has been declared as a legal tender in El Salvador, therefore the adoption in the country is high. 67.9% are disagreeing with the use of Bitcoin as a legal tender.
From the 7th of September Bitcoin has became legal tender in El Salvador. The use of bitcoin is optional, nobody has to receive Bitcoin if they don’t want to. It can be automatically changed into dollars and on demand of the vendor.
Taxes and Regulation
Legal adviser to President Nayib Bukele said that there will be no taxes to pay on either the capital increase or the income from trading cryptocurrencies.