Post
Topic
Board Bitcoin Discussion
Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
by
Doan9269
on 18/10/2022, 16:24:22 UTC
Actually, this is not correct information. Way Before El Salvador, the first country legally accepting Bitcoin as a legal Tender was actually Japan back in 2016. You guys can check the story here:
https://www.sygna.io/blog/japan-crypto-regulation-history-2014-2020/

Besides, Germany was the first to recognise Bitcoin as private money and later as legal tender. Check it out here:

https://bigthink.com/technology-innovation/in-germany-bitcoin-is-now-legal-tender/

Lot of people have got misled by inadequate information on the real situation and the state of things about El-Savador being the first country to make bitcoin a legal tender, here we need to differentiate what Germany or Japan mean by making a statement that bitcoin can be an acceptable unit of account or engaging it use is legal , which mean it is not banned neither does it serve as an offence against the law with the using of bitcoin for transaction and this statement is totally different from adopting bitcoin as a legal tender, of all that has been said, legal tender is the strongest and most recognized means to identify government approval for using bitcoin as a currency.

I actually got scared seing this post at first place which could eventually means that the world entirely and the internet have altogether been misled if truly El-Savador isn't the first country to make bitcoin a legal tender, but thanks to odolvlobo for clarification more better on this and please let try as much as possible to always get the real gist before publication in other to avoid passing wrong information, El-Savador still remains the first country to make bitcoin a legal tender.