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El Salvador, securities law has arrived

Yesterday was marked by the successful transformation of El Salvador into an attractive hub of resources for traders and investors from around the world who believe in the crypto world but who also find stimulating new products of finance such as funds, stocks or others by means of the long-awaited securities law. 

Under the government of Bukele, the visionary president of El Salvador, the small Latin American state has undergone a profound transformation mainly with regard to monetary sovereignty. 

At one time, the country was under the aegis of the United States of America and had adopted the dollar as its currency in parallel with Colòn the Salvadoran fiat currency. 

Faced with exorbitant public debt and inflation gone mad, President Nayib Bukele began the sovereignist revolution that led El Salvador to become the first country in the world to adopt Bitcoin as its official currency. 

The country is setting aside large sums of Bitcoin from month to month, if for now, it has not brought the desired effects, it is clear that due to its deflationary nature, in the long run, this policy will lead to the elimination of both of the problems that plague it. 

Not only the Eldorado of cryptocurrencies, as of yesterday, El Salvador also introduced the new securities framework law that spells out in detail what the stakes are within which it must comply financially and opens up new tools for both cryptocurrencies and non that will turn the country into an attractive hub on par with Singapore.   

“We are delighted that El Salvador passed its National Securities Law today. This paves the way for more innovative financial solutions to meet the country’s needs, including the upcoming Volcano Token. This is a monumental achievement that will surely become part of history as El Salvador takes sovereignty over its financial future. Bitfinex’s role as the technology provider for El Salvador’s Volcano Token underscores our commitment to financial freedom and the adoption of Bitcoin.”

This was stated by Paolo Ardoino, CTO of Bitfinex. 

Bitfinex acted as a consultant and platform base by providing know-how and tools for studying the law and putting it into practice. 

The platform allows the trading of a basket of digital tokens as well as giving access to all the most innovative financial products that can be analyzed thanks to charts and also sustainable through peer-to-peer financing. 

In addition to all this, the company gives access to the OTC market and offers margin trading by choosing from one of the most comprehensive cryptocurrency pools.

Bitfinex provides maximum support for El Salvador with innovative and never-before-seen tools that allow both novice and more seasoned investors to safely invest in crypto. 

“This new securities law paves the way for El Salvador to expand on the strong economic benefits established by President Bukele when the country became the first in the world to make bitcoin legal on September 7, 2021. By providing a framework for the new bitcoin-based on the capital markets, El Salvador should soon become a financial powerhouse similar in importance to Singapore and Hong Kong. Bitfinex is the ideal partner with a proven track record of success and innovation.”

Commented President Bukele’s personal adviser on Bitcoin, Max Keiser, on the approval of the law. 

Bitfinex is also working with the South American government to improve financial inclusion and education in the country through My First Bitcoin (Mi Primer Bitcoin).

“Mi Primer Bitcoin” is an international educational project initiated by John Dennehy, a longtime major sponsor of Bitcoin.

At the end of the project, the student receives a diploma after presenting a Bitcoin use case or bringing an example about the cryptocurrency industry and its history. 

 

George Michael Belardinelli
George Michael Belardinelli
A former corporate manager at Carifac Spa and later at Veneto Banca Scpa, blogger and Rhumière, over the years he has become passionate about philosophy and the opportunities that innovation and the media make available to us, in particular the metaverse and augmented reality
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