El Salvador Made Bitcoin Legal

Automatic TRANSCRIPT

What's going on guys. It is wednesday june ninth. And what you just heard open. The show was the sound of kareem. Lukhele the brother of the president of el salvador as well as his campaign manager narrating the passage of the bill by which el salvador became the first nation in the world to recognize bitcoin as legal tender. It was part of a larger hour-long discussion last night with the president himself. That happened holy spontaneously. A nick carter space on twitter. Setup to casualty chat while he cooked himself pork chops for dinner. This conversation happened late at night. And i only caught it by the grace of a fast flickering power outage in our house which caused every appliance to beep in. Wake me up me being a complete degenerate. I did a quick pass on twitter before heading back to sleep in. The first tweet. I saw was from one minute earlier from nick saying president of el salvador in my twitter spaces right now before we get into what he said. Let's go back to what happened over the previous twenty four hours. Beginning of the day was a cascade of politicians from central and south america. Giving themselves laser is we covered that on yesterday's show by the evening. Though the big news was the full text of el salvador's bitcoin legal tender bill had dropped and at the risk of this running a little long. I'm actually going to read the full english translation. It's actually pretty short. And i think is important to give you the full context for our discussion. Considering that in accordance with article one or two of the constitution of the republic the state is under the obligation to promote and protect private enterprise generating the necessary conditions to increase national wealth for the benefit of the greatest number of inhabitants that under legislative degree number two a one published in official gazette number two forty one volume three forty nine dated december. Twenty second two thousand united states dollar was adopted as legal tender said. Approximately seventy percent of the population does not have access to traditional financial services that it is the obligation of the state to facilitate the financial inclusion of its citizens in order to better guarantee their rights that in order to promote the economic growth of the nation it is necessary to authorize the circulation of a digital currency whose value answers exclusively to free-market criteria in order to increase national wealth for the benefit of the greatest number of inhabitants. That according to the previous considerations it is essential to issue the basic rules that will regulate the legal course of bitcoin

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