The rating agency said that the law and other policy decisions had “weakened governance” and increased tensions with other countries.
President Nayib Bukele made the announcement during a national address on Thursday.
President Nayib Bukele is moving on multiple fronts to make El Salvador an unlikely bitcoin mecca.
The government would also create a trust that would enable the “instantaneous convertibility of bitcoin to dollars,” the bill said.
What does it mean for a country like El Salvador to adopt bitcoin as "legal tender"? It depends on whom you ask, says our columnist.