> Under the terms of the agreement being finalised with the Washington-based fund, El Salvador would drop a legal requirement for businesses to accept bitcoin as payment, making it voluntary to do so.
So, nothing serious
So, nothing serious
I'm not disputing your main point that forcing businesses to accept it is less desirable than simply allowing them to, I just wanted to clarify that it wasn't being forced on everyone.
Legal tender status has almost nothing to do with international settlement. (The dollar isn’t legal tender in most jurisdictions.)
Yes. That isn’t why they have to pay dollars for their imports.
Using USD as their currency though does mean there is no possibility of them being invoiced in their own national currency even in cases where it might make sense.
Of course, most trade is invoiced in USD regardless.
Plenty of countries use the dollar alongside their national currency, formally and informally [1]. Plenty use it without making it legal tender.
[1] https://en.wikipedia.org/wiki/United_States_dollar#Countries...