El Salvador, Becomes the <br />First Country, to Adopt Bitcoin <br />as Legal Tender.<br />On June 9, lawmakers in <br />El Salvador’s Congress voted in <br />favor of the Bitcoin Law.<br />ABC reports that the law, <br />sent to Congress earlier that day <br />by President Nayib Bukele, received <br />62 out of 84 of the legislature's votes. .<br />The price of bitcoin was reportedly <br />driven up 5% to $34,239.17 shortly <br />following news of the vote.<br />According to ABC, "prices can now be shown in bitcoin, tax contributions can be paid with the digital currency"...<br />... "and exchanges in bitcoin will <br />not be subject to capital gains tax.".<br />According to the law, <br />70% of El Salvadorians <br />do not have access to <br />traditional financial services.<br />ABC reports bitcoin is <br />seen as a way to increase the <br />country's financial inclusion
