El Salvador Reverts Bitcoin Legal Tender, Dollar Reinstated as Sole Currency

Five years after adopting bitcoin as legal tender, El Salvador has reverted to the dollar as its only legal currency, making bitcoin acceptance voluntary. The reversal marks a significant policy retreat for President Bukele's experiment, though details on the transition and economic impact remain unclear. This shift signals reduced crypto adoption risk for sovereigns and may temper market enthusiasm for bitcoin as a national reserve asset.