0 sats \ 9 replies \ @nullama 26 Apr \ parent \ on: Last year I "laundered" 100M sats through LN bitcoin
https://www.diariooficial.gob.sv/seleccion/30534 page 13 and 14:
Art 4: Todas las contribuciones tributarias podran ser pagadas en bitcoin
Art 7: Todo agente economico debera aceptar bitcoin como forma de pago cuando asi le sea ofrecido por quien adquiere un bien o servicio
Art 13: Todas las obligaciones en dinero expresadas en dolares, existentes con anterioridad a la vigencia de la presente ley, podran ser pagadas en Bitcoin
Etc...
The law says you can pay debts with Bitcoin.
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10 sats \ 8 replies \ @DarthCoin OP 26 Apr
is can same as must?
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0 sats \ 7 replies \ @nullama 26 Apr
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt.
After this law passed in El Salvador, the courts of law there are required to recognize Bitcoin payments as satisfactory payment for any monetary debt.
You have the option to pay it with USD or Bitcoin if you want in El Salvador, as both are considered legal tender there.
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100 sats \ 6 replies \ @Lux 26 Apr
there are required to recognize Bitcoin payments as satisfactory payment for any monetary debt.
good. i like this law.
usd is legal tender, btc is regulated as legal tender
two different things that accomplish the same goal for a regular individual
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0 sats \ 5 replies \ @nullama 26 Apr freebie
In 2001 El Salvador added USD as a second legal tender there through their Ley Integracion Monetaria:
https://ssf.gob.sv/wp-content/uploads//ssf2018/Otras%20Leyes/Ley_integracion_monetaria.pdf
You can see that defining the USD as legal tender there also came with a lot of definitions, similar to the Bitcoin law:
Todas las obligaciones en dinero expresadas en colones, existentes con anterioridad a la vigencia de la presente ley, podrán ser pagadas en dólares al tipo de cambio establecido en el Art. 1 de esta ley.
So, in El Salvador, they have 3 legal tenders, colones, USD, and Bitcoin.