El Salvador Parliament has voted overwhelmingly to adopt #Bitcoin as legal tender.
In an early Wednesday vote, a supermajority of the nation’s legislature voted in favor of President Nayib Bukele’s proposal for the Latin American nation to adopt bitcoin. The president intends to sign later tonight or early in the morning.Sixty-two members of the legislature voted in favor of the bill, with 19 opposed and three abstentions.
However, the price of bitcoin dropped to its lowest in over a week on Tuesday, amid US monetary policy concerns and the continued tightening of regulation of cryptocurrencies in China.
The leading crypto was trading down 9.7% at $32,318 a coin as of 07:05 GMT. It’s the largest single daily loss for bitcoin since May 28. Other major cryptos were also trading in the red on Tuesday, with the top 10 by market capitalization having fallen between 7.3% and 12.9% over the last 24 hours.