El Salvador becomes first country to make Bitcoin legal tender

El Salvador’s President Nayib Bukele (Salvador Melendez/AP)

El Salvador’s Legislative Assembly has approved legislation making the cryptocurrency Bitcoin legal tender in the country, the first country to do so, just days after President Nayib Bukele made the proposal at a Bitcoin conference.

The digital currency can be used in any transaction and any business will have to accept payment in Bitcoin, with the exception of those lacking the technology to do so.