Bitcoin is to become legal tender in El Salvador, the country's president said, making it the first nation to adopt a cryptocurrency for everyday use.
Lawmakers in the Central American nation's Congress passed a bill late Tuesday that will eventually allow the famously volatile digital currency to be used for many aspects of daily life, from property purchases to tax contributions.
"The #BitcoinLaw has just been approved by a qualified majority" in the legislative assembly, President Nayib Bukele tweeted after the vote late Tuesday.
"History!" the president added.
The 39-year-old leader said a majority of 62 out of 84 lawmakers approved the bill, which he proposed just last week.
The law passed with the support of Bukele's allies despite minority opposition parties—who had criticised the speed of the vote—refusing to back it.
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