El Salvador looks to become the world’s first country to adopt bitcoin as legal tender
Summary
MIAMI — El Salvador is looking to introduce legislation that will make it the worlds first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar. Jack Mallers, founder of the Lightning Network payments platform Strike, said this will go down as the "shot heard round the world for bitcoin." Speaking from the mainstage, Mallers said the move will help unleash the power and potential of bitcoin for everyday use cases on an open network that benefits individuals, businesses, and public sector services. Back said he plans to contribute technologies like Liquid and satellite infrastructure to make El Salvador a model for the world. The move prompted the U.S. Agency for International Development to pull aid from El Salvadors national police and a public information institute, instead re-routing funds to civil society groups.