El Salvador's adoption of bitcoin delights fans
SAN SALVADOR, El Salvador-El Salvador's approval of bitcoin as legal tender, making it the first country to do so, has delighted cryptocurrency supporters but left markets unconvinced.
The Central American nation's Congress passed a bill late on Tuesday paving the way for bitcoin to be used in a variety of daily financial transactions from buying property to paying taxes.
It is the first time the highly volatile and decentralized cryptocurrency has been recognized by a national government and came as regulators in Europe, Asia and North America are moving to contain the market, which has grown tenfold in recent months.