A Salvadoran government official has said that while businesses must accept BTC transactions, they can choose whether to receive BTC or USD upon settling transactions.
In an interview with local media, Javier Argueta, the legal counsel to the Presidential House of El Salvador, clarified the obligations of businesses the day before the country’s controversial Bitcoin Law recognizing BTC as legal tender took effect.The legal counsel to the President of El Salvador has stated that businesses are mandated to accept Bitcoin from customers — but they are able to choose whether or not they will receive BTC or US dollars once the transaction is settled.According to a rough translation, Agueta emphasized that it is mandatory for businesses “to have the electronic wallet” to receive Bitcoin, however “In the transaction [...] you have the will to receive Bitcoin or dollars, that is why it is voluntary.”“If I buy you 1,000 shirts that cost $200 and I'm going to pay you in Bitcoin, you have the wallet, but in the transaction, when you do it, you have the will to receive Bitcoin or dollars, that is why it is voluntary.”The official added that businesses which refuse to accept BTC will be operating in violation of local regulations.
