El Salvador, Bitcoin bond laws coming soon
El Salvador, Bitcoin bond laws coming soon
Bitcoin

El Salvador, Bitcoin bond laws coming soon

By Martina Canzani - 5 Jan 2022

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El Salvador, a small country in Central America, has become known for making important political choices to facilitate the massive adoption of Bitcoin.

El Salvador, where Bitcoin is legal tender

Last year, the country famous for its beautiful beaches on the Pacific Ocean declared Bitcoin legal tender

This means that businesses in the country are now forced to accept payments in BTC, if they have the technological means to do so.

Obviously, this important political move, as well as being praised by the great supporters of the queen of cryptocurrencies, gives us a clear signal that this extraordinary economic revolution can no longer be ignored even by big governments.

Nayib Bukele
Nayib Bukele

Bitcoin bonds

But El Salvador’s crusade doesn’t end here, as the country has announced that it will soon be working on issuing Bitcoin bonds.

More precisely, the Minister of Finance said that the Government will very soon send to Congress about 20 bills to initiate, define and give legal structure to this great legislative innovation.

The news was confirmed by the president himself, Nayib Bukele, via Twitter, the crypto community’s favourite social network, where news is delivered in real-time.

The Bitcoin City 

The ultimate goal of this important political manoeuvre in El Salvador is to issue around $1 billion in bonds during this new calendar year, half of which will then be converted into BTC and the other half used for infrastructure and the mining of the currency itself.

It is therefore clear that the government is trying to create a true Bitcoin City, to house and benefit all the biggest supporters of the cryptocurrency.

 

Martina Canzani

Graduated in Law at the University of Milan. After completing her academic studies, she became interested in the world of blockchain, finding it a powerful tool for redemption. Her passion then turned into a job, and now she invests in early-stage projects in decentralised finance and DAO and writes articles on all the news concerning the crypto world.

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