Bitcoin, Congress of El Salvador passes a bill on digital securities to raise money for Bitcoin City
Bitcoin
A neighboring volcano would provide geothermal energy to the city for cryptocurrency mining. The nation would set aside $500 million for the purchase of Bitcoin, and any price growth would ultimately be distributed to bondholders Tümbet Giriş.
The Central American nation of El Salvador is attempting to raise money for the creation of a Bitcoin City. The nation established a law permitting the selling of Bitcoin bonds, which served as the foundation for the first-ever sale of a sovereign Bitcoin bond.
Bitcoin, By a vote of 62 to 16, the El Salvadoran Congress passes a bill on digital securities.
El Salvador, a country in Central America bordering the Pacific Ocean, is attempting to raise money to construct its own Bitcoin City. El Salvador was
the first nation in the world to accept Bitcoin as legal cash two years ago as a result.
A legislation governing the issuing of other digital assets by both public and commercial companies was adopted by the nation’s congress. The legislators from the ruling party, who are supporters of President Nayib Bukele, support the bill Tümbet.
Bukele seeks to bring in domestic and international investors while generating new avenues for funding for individuals, businesses, and the El Salvadorian government.
The first-ever sovereign blockchain bond can be issued by the country thanks to the digital securities law. By a vote of 62 to 16, the congress adopted the measure.
Its goal is to provide the legal framework that provides legal certainty to transfer operations to any title of digital assets utilized in public issuance offerings. The 47-article bill won 62 votes in favor out of a total of 84 seats.
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The law also lays the groundwork for the establishment of the National Commission for Digital Assets and the Bitcoin Proceeds Administration
Agency, which will be in charge of administering, securing, and investing the funds from government-run digital asset public offerings.
