Hello Indodax members!
Last Tuesday, El Salvador, a country located in Central America, officially adopted bitcoin as a legal tender. This news has attracted neighboring countries to follow, Honduras and Guatemala.
McDonalds now accepts #Bitcoin in El Salvador.
Ice cream machine still broke tho ? pic.twitter.com/I5JqiPD0UU
— Bitcoin Magazine (@BitcoinMagazine) September 7, 2021
Yep. Honduras and Guatemala are neighboring countries of El Salvador, which will be following Cuba, Panama, Paraguay, and El Salvador to make cryptocurrencies legal. The representatives from the two countries’ central banks said that they are studying the possibility of digital currency being adopted as a legal currency. There is a possibility that it can be used as a public payment option other than fiat currency.
Considering that most of the citizens of this country depend on remittances from families who work in the United States. Moreover, it is now quite difficult for people to send dollars because of the tightened embargo rules imposed by former US President Donald Trump. Of course, this is an alternative option that Honduras and Guatemala can use.
For countries in South America such as Panama, Paraguay, Honduras, and Guatemala, what El Salvador has done has more or less affected countries on other continents.
So, on September 8, a draft law legalizing and regulating crypto assets in Ukraine was passed by the country’s parliament in its second reading. More than 200 parliaments have already voted and accepted the bill. Before this bill, Ukraine did not have any laws about purchasing crypto assets, so the position of crypto in Ukraine is still gray. However, the regulation regarding crypto assets in Ukraine is the same as in Indonesia; crypto in Ukraine cannot be used as a payment and only as a commodity.
So, after the pandemic, you can go to El Salvador to buy snacks using BTC!