The bill start with this statement
by an overwhelming majority in El Salvador was approved by the Salvadoran Congress The bill to convert Bitcoin into legal tender "The purpose of this law is to regulate Bitcoin as an unrestricted legal currency with liberating power, unrestricted in every transaction and every publication that publishes it, or in private or legal persons that require its implementation. In," the draft law described. this news is announced by the president nayib bukele via tweeter
The bill states that the exchange rate between Bitcoin and the U.S. dollar is freely determined by the market and prices can be expressed in Bitcoin.
In addition, “taxes can be paid in Bitcoin,” the draft law says. Statement: "Bitcoin exchanges will not pay capital gains tax like any legal tender." In addition, everyone who provides goods and services must accept Bitcoin as a means of payment.state also provide necessary training of bitcoin transaction to their people
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