El Salvador Congress backs $150 million fund for bitcoin ahead of adoption
The Hindu
With 64 votes in favour and 14 votes against, Congress approved the fund as El Salvador, which already uses the U.S. dollar, prepares to officially adopt bitcoin on Sept. 7.
El Salvador's Congress on Tuesday approved a law to create a $150 million fund to facilitate conversions from bitcoin to U.S. dollars ahead of the Central American country's planned adoption of the cryptocurrency as legal tender next week. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) With 64 votes in favour and 14 votes against, Congress approved the fund as El Salvador, which already uses the U.S. dollar, prepares to officially adopt bitcoin on Sept. 7.
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