Good news overshadows crypto this month. Apart from the condition regarding the price which is undergoing a correction in the last two months, finally there is also good news that makes crypto smile a little again. And hopefully this news is true and can be felt as soon as possible. Considering that if this is done, it means that it will be the first example country to be seen in the future using bitcoin as a legal payment.
Elsavador, one of the countries in Central America, is rumored to be legalizing bitcoin as a legal payment in the future. This news is quoted from a press conference video in Miami, United States. Where in his speech the president of El Savador Nayib Bukele said he would legalize Bitcoin as a legal tender. And he also introduced a new law that formalized it. In its construction, they will cooperate with the strike wallet company to make it happen. Strike, is one of the mobile payment applications that was launched in the country of El Salvador in March.
This is also corroborated by confirming what the president of Elsavador said. Strike co-founder Jack Mallers say it "this is a big bang heard around the world for bitcoin." In other words he said that "Holding bitcoin is an act that will protect developing countries from shocks from fiat currency inflation. In addition, adopting native digital currencies as legal tender in the future will provide El Salvador with an open payment network. and the most secure, efficient and globally integrated in the world," said Mallers.
Elsavador as the world is known to build an economy which is dominated by cash transactions. So almost 70% of Elsavador residents do not have an account or credit card.
From several news sources it is also said that a special team has now been formed by the state of Elsavador to help build a financial ecosystem with Bitcoin, the Party of Nayib Bukele which already has control in the country's Legislative Council can also help make it possible for the Laws to be passed soon. Where President Nayib Bukele has said "Next week I will send to Congress a Constitution that will make bitcoin a legal payment," quoted from CNBC International on June 4 - 5 last in a Bitcoin press conference in Miami, United States.
It is hoped that President El Savador also said this aims to can create a new jobs and create financial inclusion for thousands of people outside the formal economy.
Previously, El Savador also had legalized the US dollar currency in monetary integration in 2001. And this is a future adoption for the Act to legalize bitcoin in the country's financial economy.
However, from this news in detail, the Elsavador Government has not yet provided its report. Both regarding the continuation of the law that will be made later and submitted to their congress.
So if this happens, it means Elsavador will be the first country in the world that has legalized to legalize bitcoin as a payment method with the laws in force in their country. Indeed, previously many countries have accepted bitcoin or crypto as payment, but this is different from the legality of what happened with Elsavador. Like Japan, Venezuela, or Puerto Rico, which legalize it as a method of companion payment. Meanwhile, developed countries such as the United States and Britain are still legalizing assets only.
At least with this new news there is a little glimmer of hope that makes many people believe that crypto exists in the future. Where this adds positive value for the crypto community to continue to develop their projects so that they can be accepted in the future as legal tender in many countries, of course. And hopefully the world will accept it.
