The FX PostThe FX Post
    What's Hot

    Sberbank’s CEO not keen on Russia’s digital ruble – ‘I don’t see its advantages’

    July 3, 2025

    $69.5 Million Bitcoin ETF Holder Files for IPO

    July 2, 2025

    Newsroom Panama

    July 2, 2025
    The FX Post The FX Post
    • Best Fx Robots
    • Forex
      • News
      • Forex 101
      • Forex Forecasts
      • Broker Reviews
    • Crypto
      • News
      • Crypto 101
      • Crypto Forecasts
      • Crypto Reviews
    • Indices
      • News
      • Analysis
      • Commodities
      • Reviews
    • Automated Trading
      • Forex Signals
      • Forex Robots
      • Copy Trading
    • Top
      • Best Forex Robots
    The FX PostThe FX Post
    Home » El Salvador Congress Approves $150mn Fund to Pave Way for Bitcoin Adoption
    Forex News

    El Salvador Congress Approves $150mn Fund to Pave Way for Bitcoin Adoption

    September 2, 20211 Min Read
    Facebook Twitter Pinterest LinkedIn Reddit
    puzzle with the national flag of el salvador and dollar banknote on a world map background. 3D illustration
    Share
    Facebook Twitter LinkedIn Pinterest Reddit

    El Salvador’s Congress passed a law to approve a $150 million fund to open the door for conversions from bitcoin to U.S. dollars ahead of the planned adoption of Bitcoin.

    • A majority of 64 votes in support against 14 votes helped Congress to approve the fund as El Salvador uses the U.S. the dollar-paved way to officially adopt bitcoin on September 7.
    • The Central American country will become the first nation in the world to use cryptocurrency as legal tender.
    • Money for the new fund will be channeled from the finance ministry’s current budget and managed by the state development of El Salvador(Salvador (BANDESAL).
    • A congressional document reported that the law aims at financially supporting the alternatives that the state provides, without prejudice to private firms, which allow users to automatically convert bitcoin to the US dollar.

    Nearly 200 ATMs and 50 consulting centers from the government digit wallet app “Chivo” are being installed in various parts of the country where users can deposit and withdraw money without payment of commissions. 

    BTC USD up +1.55% 

    Source: Reuters

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more
    Cryptocurrency El Salvador
    Share. Facebook Twitter Pinterest LinkedIn Reddit

    Related Posts

    Bitcoin and Cryptocurrencies Show Bullish Signs

    February 9, 2024
    6.8

    SurgeTrader Review

    August 10, 2023
    8.6

    Social Trader Tools Review

    May 30, 2023
    9.0

    Kodi Kai Trades Review

    May 28, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    21  −  15  =  

    Best FX Post
    Best Forex Robots (Expert Advisors) 2021

    Best Forex Robots (Expert Advisors) 2022: Passive Income From Algo Trading Systems

    July 7, 2021

    Top 10 Lending Platforms for Crypto Loans

    June 1, 2022
    forex eurusd trading charts

    Top 10 Best Forex Brokers In All Times

    June 1, 2022
    Recent Posts
    • Sberbank’s CEO not keen on Russia’s digital ruble – ‘I don’t see its advantages’
    • $69.5 Million Bitcoin ETF Holder Files for IPO
    • Newsroom Panama
    • Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation | Ethereum Ethereum Accumulation | CryptoRank.io
    • Economic Calendar for the Week of June 29th
    Featured Reviews

    Traders Connect Review

    May 18, 2023

    System Levels Review

    May 26, 2023
    TechBerry

    TechBerry Review: Pros, Cons, Recommendations

    September 18, 2021
    Categories
    • Analysis
    • Automated Trading
    • Best FX Post
    • Broker Reviews
    • Commodities
    • Copy Trading
    • Crypto
    • Crypto 101
    • Crypto Bots
    • Crypto Forecasts
    • Crypto Reviews
    • Crypto Robot
    • Forex
    • Forex 101
    • Forex Forecasts
    • Forex Robots
    • Forex Signals
    • Forex Signals
    • Guides
    • Indices
    • News
    • News
    • News
    • News
    • Reviews
    • Reviews
    • Uncategorized
    Twitter BlogLovin
    © 2025, Thefxpost.com.
    • Contact

    Type above and press Enter to search. Press Esc to cancel.