El Salvador To Send 20 Bills To Congress Providing “Legal Certainty” For Bitcoin Bond Issuance

Share This Post

After announcing Bitcoin Bonds last November, El Salvador’s government will now send to congress the legal framework for its issuance.

In an interview on a local television station today, El Salvador Finance Minister Alejandro Zelaya announced that they will be sending about twenty bills to congress that will provide legal certainty for their Bitcoin Bond issuance, according to Reuters.

These twenty bills will “provide a legal structure and legal certainty to everyone who buys the bitcoin bond,” Zelaya stated. After President Nayib Bukele announced Bitcoin Bonds this past November, the government began working on creating the legal framework to cover the issuance of securities on Bitcoin and corresponding market regulation.

El Salvador aims to raise $1 billion through the bond issuance where half the funds will go to buying bitcoin and the other half is to be spent on building infrastructure for “Bitcoin City.” This city is aiming to attract investors as the announced plans claims it will have 0% income, capital gains, property, payroll, and municipal taxes, as well as 0% CO2 emissions. The bond will pay a 6.5% yield and enable fast-tracked citizenship for investors.

The government is hoping to profit from the funds that will be used to buy BTC, like some of the other purchases they’ve made since adopting a Bitcoin standard.

Recently, Bukele made a new year’s prediction that these Bitcoin Bonds “will be oversubscribed” by the end of the year. 

Read Entire Article

Related Posts

Dogecoin Whales Moving Around Massive Amounts: What Are They Up To?

On-chain data shows that the Dogecoin whales have recently made massive moves Here’s where these moves have been heading Dogecoin Network Has Witnessed Some Large Moves Recently According to

Analysts Bullish On Bitcoin Despite Peter Schiff’s $20,000 Doom Scenario

Over the weekend, the Bitcoin (BTC) crash had the crypto community on its toes With the price dropping to $60,000, many investors worried that the flagship cryptocurrency was in trouble ahead of the

Dogecoin Flashes Weekly Golden Cross: Why This Analyst Believes The Bull Rally Is Far From Over

A crypto analyst known as Yomi has noted that the Dogecoin recent price action could turn bullish after this week According to Yomi, DOGE is on the verge of creating a golden cross on its price

Toncoin And WIF Beat Out Dogecoin, Shiba Inu To Clinch Title For Best Perfoming Altcoins

Toncoin (TON) and Dogwifhat (WIF) are in the spotlight, having emerged as the best-performing altcoins since the start of the year ahead of other performing altcoins like Dogecoin (DOGE) and Shiba

On-chain sleuth ZachXBT says X’s controversial ‘not a bot’ fee unlikely to eliminate scams

Crypto commentator ZachXBT criticized an annual fee that X now requires from new accounts ZachXBT wrote on April 15 that the new policy will not eliminate bot account-driven scams because

Analyst Predicts $650K Bitcoin Price Once ETF Investors Fully Deploy Asset Manager Recommendations

Popular onchain analyst Willy Woo has predicted a potential bitcoin price surge to $650,000 at the bull market’s peak His prediction hinges on spot bitcoin exchange-traded fund (ETF) investors
- Advertisement -spot_img