What Happened: El Salvador lawmakers voted in favor of a Bitcoin law allowing the Central American country to adopt the cryptocurrency as a legal tender.
Items can now be priced in Bitcoin, tax contributions can be paid using the popular cryptocurrency and exchanges in Bitcoin will not be subject to a capital gains tax.
El Salvador is the first country to adopt Bitcoin as legal tender.
Nayib Bukele, president of El Salvador, took to Twitter to celebrate the historic moment.
The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress.
62 out of 84 votes!
— Nayib Bukele � (@nayibbukele) June 9, 2021
Price Action: At last check Wednesday, Bitcoin was up 8.31% at $36,431.
Marathon Digital was up 7.74% at $25.47, while Riot Blockchain was up 10.10% at $30.88, at last check Wednesday.
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