EL SALVADOR'S PLAN TO CREATE THE FIRST BITCOIN-POWERED NATION IS TANK…

El Salvador's new law requires all merchants and banks to accept Bitcoin for payment from any consumer or business that wants to pay with Bitcoin. President Nayib Bukele pushed through a law that made Bitcoin a second official currency last June. The law is a departure from the old template that had worked well with the U.S. dollar. The new Bitcoin regime forces banks and merchants to accept a wildly volatile currency they don't want, says Steve Hanke.
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