El Salvador's 2021 Bitcoin law required merchants to accept Bitcoin as payment. However, many merchants were reluctant to comply due to concerns over its price volatility

Quotes that support claims

The 2021 law in El Salvador made Bitcoin (BTC) legal tender, meaning it became not just legal but mandatory for transactions. Merchants were required to accept Bitcoin, and the government started collecting payments such as taxes and fees in Bitcoin.

Many merchants were also reluctant to accept Bitcoin due to its volatility, fearing that its fluctuating value could lead to losses

Referenced by

El Salvador troubles with Bitcoin adoption

Crypto news