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100 sats \ 6 replies \ @Lux 26 Apr \ parent \ on: Last year I "laundered" 100M sats through LN bitcoin
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.