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Bitcoin to become legal tender in El Salvador on Sept 7

SAN SALVADOR (Reuters) -El Salvador’s President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional. El Salvador’s Congress already approved Bukele’s proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender. “The use of bitcoin will be optional, nobody will receive bitcoin if they don’t want it… If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,” said Bukele.

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