El Salvador’s adoption of bitcoin delights cryptocurrency fans ...Middle East

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El Salvador’s adoption of bitcoin delights cryptocurrency fans
source : Daily Sun ( Middle East ) () 10
LONDON: El Salvador’s approval of bitcoin as legal tender, making it the first country in the world to do so, has delighted cryptocurrency fans but left markets unconvinced.The Central American nation’s Congress passed a bill late on Tuesday paving the way for bitcoin to be used in a variety of daily financial transactions from buying property to paying taxes.It is the first time the highly volatile and decentralised cryptocurrency has been recognised by a national government and comes as regulators in Europe, China and North America are moving to contain the market, which has grown tenfold in recent months.“Some larger, more powerful countries are trying to quash or slow the inevitable shif

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