Following the monarch's passing on Thursday, the Bank of England declared that its banknotes bearing the picture of Queen Elizabeth were still valid legal tender.&nbsp;

"Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender. A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed&nbsp;"announced the central bank.

The first monarch to appear on Bank of England banknotes was Queen Elizabeth.&nbsp;

"It was with profound sadness that I learned of the death of Her Majesty The Queen. On behalf of everyone at the Bank I would like to pass on my deepest condolences to the Royal Family "Andrew Bailey, the governor, remarked.

Queen Elizabeth passed away peacefully at her residence in Scotland on Thursday at the age of 96. She was the longest-reigning monarch in British history, the head of the country, and a towering presence on the international scene for seven decades.&nbsp;

According to Buckingham Palace, Charles and Camilla, the Queen Consort, will stay at Balmoral Castle until Friday, when they will fly back to London.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/photos/in-pics-popular-scandals-of-queen-elizabeths-70-year-reign-514264">Royal drama: Scandals and controversies of Queen Elizabeth's reign</a>

Charles automatically ascends to the throne of the United Kingdom and 14 other nations, including Australia, Canada, and New Zealand, on Elizabeth's death. Our official name would be Charles III, according to his office.

When the queen's doctors announced that she was under medical observation just after midday on Thursday, her relatives hurried to be by her side as word spread that her condition was deteriorating.&nbsp;

Since the end of last year, the queen had been experiencing what Buckingham Palace described as "episodic mobility problems," which had forced her to cancel almost all of her public appearances.&nbsp;

Tuesday marked her last official act before leaving office when she named Liz Truss as her fifteenth prime minister.

(with inputs from agencies) 
&nbsp;

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Following the monarch's passing on Thursday, the Bank of England declared that its banknotes bearing the picture of Queen Elizabeth were still valid legal tender.

Following the monarch's passing on Thursday, the Bank of England declared that its banknotes bearing the picture of Queen Elizabeth were still valid legal tender. "Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender. A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed "announced the central bank. The first monarch to appear on Bank of England banknotes was Queen Elizabeth. "It was with profound sadness that I learned of the death of Her Majesty The Queen. On behalf of everyone at the Bank I would like to pass on my deepest condolences to the Royal Family "Andrew Bailey, the governor, remarked. Queen Elizabeth passed away peacefully at her residence in Scotland on Thursday at the age of 96. She was the longest-reigning monarch in British history, the head of the country, and a towering presence on the international scene for seven decades. According to Buckingham Palace, Charles and Camilla, the Queen Consort, will stay at Balmoral Castle until Friday, when they will fly back to London. Also Read: Royal drama: Scandals and controversies of Queen Elizabeth's reign Charles automatically ascends to the throne of the United Kingdom and 14 other nations, including Australia, Canada, and New Zealand, on Elizabeth's death. Our official name would be Charles III, according to his office. When the queen's doctors announced that she was under medical observation just after midday on Thursday, her relatives hurried to be by her side as word spread that her condition was deteriorating. Since the end of last year, the queen had been experiencing what Buckingham Palace described as "episodic mobility problems," which had forced her to cancel almost all of her public appearances. Tuesday marked her last official act before leaving office when she named Liz Truss as her fifteenth prime minister. (with inputs from agencies)

Banknotes featuring Queen Elizabeth's picture remain legal tender: Bank of England

The Congress of El Salvador has approved a law that will classify Bitcoin as legal tender in the Central American country, its president said, making it the world's first nation to adopt a cryptocurrency.

"The #BitcoinLaw has just been approved by a qualified majority" in the legislative assembly, President Nayib Bukele tweeted after the vote late Tuesday.

"History!" the president added.

He said a majority of 62 out of 84 lawmakers approved the bill, which he proposed last week.

The law passed with the support of Bukele's allies despite minority opposition parties -- who had criticised the speed of the vote -- refusing to back it.

Before the vote, Bukele said adopting the cryptocurrency would bring "financial inclusion, investment, tourism, innovation and economic development" to the country.

The Salvadoran leader has hailed bitcoin as "the fastest-growing way to transfer" billions of dollars in remittances and to prevent millions from being lost to intermediaries.

Remittances from Salvadorans working overseas represent a major chunk of the economy -- equivalent to roughly 22 per cent of Gross Domestic Product.

In 2020, remittances to the country totalled $5.9 billion, according to official reports.

"This is a law that will put El Salvador on the world's radar, we will be more attractive for foreign investment," Romeo Auerbach, deputy of the Grand Alliance for National Unity party, an ally of Bukele, said.

The cryptocurrency market grew to more than $2.5 trillion in mid-May 2020, according to the Coinmarketcap page, driven by interest from increasingly serious investors from Wall Street to Silicon Valley.

But the volatility of bitcoin -- currently priced at $33,814 -- and its murky legal status has raised questions about whether it could ever replace traditional currency in day-to-day transactions.

The Congress of El Salvador has approved a law that will classify Bitcoin as legal tender in the Central American country, its president said, making it the world's first nation to adopt a cryptocurrency.

The Congress of El Salvador has approved a law that will classify Bitcoin as legal tender in the Central American country, its president said, making it the world's first nation to adopt a cryptocurrency. "The #BitcoinLaw has just been approved by a qualified majority" in the legislative assembly, President Nayib Bukele tweeted after the vote late Tuesday. "History!" the president added. He said a majority of 62 out of 84 lawmakers approved the bill, which he proposed last week. The law passed with the support of Bukele's allies despite minority opposition parties -- who had criticised the speed of the vote -- refusing to back it. Before the vote, Bukele said adopting the cryptocurrency would bring "financial inclusion, investment, tourism, innovation and economic development" to the country. The Salvadoran leader has hailed bitcoin as "the fastest-growing way to transfer" billions of dollars in remittances and to prevent millions from being lost to intermediaries. Remittances from Salvadorans working overseas represent a major chunk of the economy -- equivalent to roughly 22 per cent of Gross Domestic Product. In 2020, remittances to the country totalled $5.9 billion, according to official reports. "This is a law that will put El Salvador on the world's radar, we will be more attractive for foreign investment," Romeo Auerbach, deputy of the Grand Alliance for National Unity party, an ally of Bukele, said. The cryptocurrency market grew to more than $2.5 trillion in mid-May 2020, according to the Coinmarketcap page, driven by interest from increasingly serious investors from Wall Street to Silicon Valley. But the volatility of bitcoin -- currently priced at $33,814 -- and its murky legal status has raised questions about whether it could ever replace traditional currency in day-to-day transactions.

El Salvador becomes the first country to adopt bitcoin as legal tender after passing legislation

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