El Salvador adopts Bitcoin

The country doesn't have their own currency and uses USD. This means they can't print money, and that can be an issue when you're a net importer like El Salvador is (they could run out of dollars without the ability to print).

They also have high unemployment, and 70% of the population doesn't have a bank account, and many Salvadoreans receive money from relatives working in more prosperous countries (about 25% of Salvadoreans live outside the country, and the money they send accounts for 20% of El Salvador's GDP). Money transfers are always a challenge with conventional institutions, and can involve high fees for each transfer (sometimes as high as 10%, which is of course good for banks).

The bill passed Congress (62 out of 84 votes) to make El Salvador first country to accept crypto as an official method of payment ('unrestricted legal tender') beside the USD.