The Salvadoran Legislative Assembly has given the ‘green light’ on Wednesday to a bill that allows the issuance of bitcoin bonds and establishes a regulatory framework for the digital currency in El Salvador, the first country in the world to adopt the cryptocurrency as its official currency in September 2021.
«The Legislative Assembly of El Salvador has just approved, by overwhelming majority, the new Digital Securities Law,» reported on his Twitter profile the Salvadoran president, Nayib Bukele, on an initiative that was approved with 62 votes in favor against 16 against.
The new legislation, which consists of 47 articles and was presented by the Ministry of Economy at the end of November, will allow the issuance of debt with cryptoassets, as reported by the newspaper ‘La Prensa Grafica’.
Specifically, it includes the creation of a National Commission of Digital Assets, which will be in charge of managing the registries of digital assets, as well as a Bitcoin Funds Administration Agency (AAB) to control the funds coming from public offerings.
The securities are intended to raise $500 million to help build a tax-free coastal city known as Bitcoin City, which would have geothermal energy available from a nearby volcano to mine digital coins, Bloomberg has reported.
Source: (EUROPA PRESS)
