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#ElSalvador | The Bukele administration has announced that next week it will sponsor a bill to convert #Bitcoin into legal tender alongside the $USD.
El Salvador dollarized its economy in 2001. "Central banks are increasingly taking actions that may cause harm to the economic stability of El Salvador," reads part of the bill. The move won't replace the dollar, but rather allow the Central Bank to acquire reserves of Bitcoin. 
The move also comes amid yearslong debate over whether to break away from the U.S. Dollar to give the Salvadoran Central Bank control over currency supply. A big part of this debate has been the large public debt & payment of public salaries and pensions. elfaro.net/en/202010/el_s…
