The approval of this law makes the country the first in the world to recognize the cryptoasset as a legal currency of exchange.

"We are the first country in the world to adopt this currency, which is already circulating in our nation. For example, in El Zonte beach, some businesses have already started to attend tourists who pay their services through Bitcoin", said, Bladimir Barahona, deputy for the New Ideas party.

The Bitcoin Law has 16 articles, which was approved with the votes of 62 deputies.

Among the main articles of the Bitcoin Law are the following:

• 3 All prices may be expressed in Bitcoin.
• 4 All tax contributions may be paid in Bitcoin.
• 5 Exchanges in Bitcoin will not be subject to capital gains tax, just like any other currency of the capital gains tax in the same way as any legal tender.
• 7 Every economic agent shall accept Bitcoin as a form of payment when offered by the person acquiring a good or service.
• 13 All obligations in money expressed in dollars, existing prior to the effective date of this law, may be paid in Bitcoin.

According to the decree, the law regulates the Bitcoin as legal tender, unlimited in any transaction and under any title that natural or legal persons, public or private, may need to carry out.

The regulation, of the 16 articles, will enter into force ninety days after its publication in the Official Gazette, in which the Banco Central de Reserva (BCR) and the la Superintendencia del Sistema Financiero (SSF) will issue the corresponding regulation in that period for its approval.