• Ecuador intends to introduce its own virtual currency which would be however acknowledged as a legal tender
• Since 2000 Ecuador’s legal tender is the US Dollar (the original legal currency – Sucre was abolished after hyperdevaluation)
• New law introducing the virtual currency as a legal tender was accepted by the Parliament and now needs solely the President’s signature in order to enter into force

For further details please contact: Carlos Erazo, carlos.erazo@ec.pwc.com