On 9 June 2021, El Salvador's parliament approved a law that makes Bitcoin legal currency, becoming the first country to do so. The law will enter into force in 90 days. The move was announced earlier by Salvadoran President Nayib Bukele during the Bitcoin 2021 conference held on 5 June. According to a tweet from Bukele, El Salvador will not impose capital gains tax for Bitcoin, since it is a legal currency, and will provide incentives for crypto entrepreneurs, including the granting of immediate permanent residence in the country. Aside from not taxing gains from Bitcoin, the use of the...