Trending Topic: El Salvador Sets Basis For Bitcoin Volcano Bonds With New Draft Law

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El Salvador is moving forward with plans to sell bitcoin-backed bonds, as evidenced by the national assembly's consideration of a draft law to govern digital assets.

The El Salvadoran Minister of the Economy has introduced a bill which will enable the Bukele government to raise $1 billion in order to build out its proposed Bitcoin city. Bitcoin bonds The Bitcoin bonds project, also known as Volcano bonds, was an idea initially introduced by the Bukele government back in 2021.

The government of El Salvador, the first country in the world to adopt bitcoin as legal tender, is seeking congressional approval to issue investment bonds in the cryptocurrency.

The geothermal Bitcoin bonds are one step closer to becoming reality as El Salvador heartily welcomes all crypto.

El Salvador's Minister of the Economy Maria Luisa Hayem Brevé presented a digital assets issuance bill in the legislative assembly, in order to launch Bitcoin-backed bonds. The plan was announced in November last year and its bill was submitted on 17 November.

A new bill confirms the government's plan to raise $1 billion and invest them into the construction of a “Bitcoin city.”

Parliament is expected to approve the creation of the agency that will manage the funds

El Salvador's bitcoin-backed \"volcano bonds\" are expected to raise $1 billion for the government.

The Bitcoin volcano bonds of the country of El Salvador have taken an major step towards issuance. After the project faced delays, a bill on digital securities has now been introduced by the Salvadoran Congress yesterday.

On November 23, the leading cryptocurrency, Bitcoin, showed signs of new recovery, having broken through the downward trendline and 50-day moving average to trade near $16,500. Similarly, Ethereum, the second-most valuable cryptocurrency, has followed Bitcoin's lead and pumped over 5% to 1,163.

El Salvador President Nayib Bukele remains unperturbed during the deepening crypto winter, submitting a new bill for full crypto adoption. The post El Salvador Submits Digital Asset Issuance Bill For Full Crypto Adoption appeared first on BeInCrypto.

The debut of El Salvador's bitcoin-backed "volcano" bonds was made possible by the submission of a bill authorizing the issuing of digital assets to the nation's legislative assembly

A digital securities bill has been presented to El Salvador's Congress, paving the way for the issuance of bitcoin-backed bonds. on Twitter

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