Bitcoin became the legal tender of Cuba: a week after rebounding from $41000, bitcoin rose above $50000, close to $52000. Recently, bitcoin has been slowly recovering to the previous high, and its price has risen more than 60% compared with the low in July.
In the same week that El Salvador officially introduced bitcoin as a form of legal tender, two more countries have moved towards broader acceptance of the cryptocurrency.Ukraine passed a draft law to legalise cryptocurrencies the day after El Salvador Bitcoin Law came into effect on 7 September, with a view to open up the crypto market to businesses and investors by next year.
What is NFT? NFT is the abbreviation of non fungible tokens, which is translated as non homogenous token. Most of the discussions on non-homogeneous tokens begin with the introduction of fungibility. Non-homogeneous tokens are relative to replaceable and homogeneous tokens (homogeneous tokens are also called tokens).
When the vast majority of countries in the world do not recognize bitcoin as legal currency, the American country El Salvador officially took bitcoin as legal currency at the beginning of this month. Although bitcoin plummeted by $7000 a day later, its president bucker did not flinch and continued to implement this policy.
From the development of bitcoin to the present, the fear of implementing a comprehensive ban has lasted for more than a decade, but with the passage of time, the possibility that a country may be worried about bitcoin prohibition is getting smaller and smaller.
For many people, cryptocurrencies like Bitcoin are part of an exciting and lucrative new financial frontier. But for the country’s top market watchdog, Gary Gensler, they seem “like the Wild West” – and he’s promising a crackdown.
The peer-to-peer digital currency bitcoin made its debut in 2009, ushering in a new era of cryptocurrency. While tax authorities, enforcement agencies, and regulators worldwide are still debating best practices, one pertinent question is: Is bitcoin legal or illegal? The answer depends on the location and activity of the user.
Despite many disputes, El Salvador, a small Central American country, insisted on its previous decision to take bitcoin as the legal tender of the country. Three months ago, the national assembly of El Salvador voted by an absolute majority to pass the Bitcoin Act submitted by President bucker.