Interesting, but nothing to get euphoric about, in my view.
The thing is, El Salvador doesn't have a own currency at all. They used the US$ so far and still do - probably to avoid being dragged into a hyperinflation spiral that ends up in a general use of the US$ anyway (most likely in a illegal manner), as it happened to many countries before.
This official use of the US$ has its own problems, of course. Especially in recent days the stability of the US$ and its purchasing power is more than questionable. In addition there is the matter of taking influence on internal Salvadorian politics by the USA via the US$ supply.
So its not so surprising that the Salvadorian Government is looking for a alternative to the use of US$. Other currencies, like the Euro, Yuan, Yen or whatever does not really improve anything, it only swaps the name. Therefore a crypto currency is a logical step, since its not controlled by a nation - even if it is less than practical to use it as a currency.
Btw., the status of BTC (or any other crypto) in regard of tax laws is probably the most important aspect of the entire crypto currency discussion. Without that, no government would give a fuck about cryptos at all. Controlling the currency flow and taxing it is what the whole nation/government/economy/politics thing is about. Anything that disrupts this system will not be tolerated.
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