The Executive of this Central American nation released a video that explains details of the implementation of the so-called Bitcoin Law, proposed by President Nayib Bukele and approved by the ruling majority Parliament.
Bukele himself was the first to publish the one-minute-long material, which reiterates that bitcoin will be a legal tender alongside the US dollar, and that its use will be optional.
‘You will have the option to pay and collect with Bitcoin or dollars. All cash transactions, prices, salaries and pensions will continue to be in dollars’, highlights the audiovisual.
Last week, the Central American Bank for Economic Integration published the criteria to tender the hiring of a consultancy for the implementation of the Bitcoin Law, the first of its kind in the world.
According to government information, users may choose to use the government’s digital wallet, called Chivo, or any other on the market to carry out their operations in bitcoin.
The aforementioned Chivo Wallet is an application for mobile devices that will be complemented with a network of 200 bitcoin ATMs, and 50 service centers installed in the main squares of the country.
oda / cmv