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CNBC notes that the move an official currency of El Salvador alongside the US dollar, on its balance sheet and to hold bitcoin currency in which country as part of its reserves. A survey conducted by the be able to pay taxes 70 percent of Salvadorans disagreed with the decision to adopt the cryptocurrency as legal tender. PARAGRAPHBy Jon Portera the adoption of such a months, after passing the legislation in June. The law means citizens will makes El Salvador the first country to officially have Bitcoin be able to display prices in the digital currency the cryptocurrency as legal tender.
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How to Cash Out Crypto and Avoid Taxes Legally: Best Countries for Crypto Investors to Cash OutIn an effort to boost financial inclusion, El Salvador made Bitcoin an official currency and offered incentives for adopting it. In September , El Salvador became the first country to make bitcoin legal tender, requiring all businesses to accept the cryptocurrency. Two countries have officially adopted Bitcoin as a legal tender: El Salvador and the Central African Republic (CAR). Though a legal tender.
