El Salvador Government Forces Merchants to Accept Bitcoin

News
Reading Time: < 1 minute

Javier Argueta, legal advisor of the Presidential House of El Salvador, has said during an interview that local businesses are obliged to accept Bitcoin as a means of payment.

He said a day before the Bitcoin Law came into force in the country (this happened yesterday) that merchants are obliged to accept Bitcoin from their customers – but they can choose whether or not they will receive BTC or US dollars once the transaction is settled. According to him:

“Merchants must have the e-wallet to receive Bitcoin, however, at the transaction these can decide whether to receive Bitcoin or dollars, that’s why it’s voluntary.┬áIf I buy a thousand shirts that cost 200 dollars and I am going to pay you in Bitcoin, you have the wallet, but in the transaction, when you make it, you have the will to receive Bitcoin or dollars, that is why it is voluntary”.

Argueta added businesses that refuse to accept BTC will be breaking local laws. By not doing so, these could incur in “infractions to the Consumer Protection Law.”

If you like our content and want to support us, please follow us on X, Facebook and Instagram and don’t miss the latest news!