El Salvador is one of the few countries that accepts bitcoin as an official means of payment. The bitcoin law has been overwhelmingly approved by Congress

“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,” the decree says.

The bitcoin law will take effect 90 days after being published in the state newspaper. All tax deductions can also be made in bitcoins.

Permanent residents can obtain citizenship after five years.