Lightning Network Wallet Zap Founder: El Salvador Working on Bill to Legalize Bitcoin

El Salvador is working on a bill to recognize the legal status of bitcoin, and his company is working with the country’s president, Nayib Bukele, on a plan, Jack Mallers, founder of the lightning network wallet Zap, said at the Bitcoin 2021 conference in Miami, according to CoinDesk on June 6. The bill must also be vetted by the country’s legislative assembly. But with Bukele’s newcomer party firmly in control of the body, approval on Saturday afternoon is almost a foregone conclusion. If approved, the bill could make El Salvador the first country to adopt the bitcoin standard.