El Salvador to Issue $1 Billion Bitcoin Bond to Fund ‘Bitcoin City’

El Salvador to Issue $1 Billion Bitcoin Bond to Fund ‘Bitcoin City’

President Nayib Bukele, of El Salvador, announced yesterday he would issue a $1 billion “Bitcoin Bond” to build the first Bitcoin City in the world. The city would feature no taxes of any kind except VAT, and it would be carbon neutral, with most of the energy powering it coming from geothermal sources. Bukele also announced that El Salvador would partner with Blockstream and use its liquid network to issue the aforementioned bond. Bitcoin City Announced in El Salvador El Salvador and its president, Nayib Bukele, have taken the next step that will integrate bitcoin....


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El Salvador prepares 20 bills to provide legal framework for Bitcoin bonds

The raft of bills will help El Salvador’s government establish the legal and financial framework for the $1 billion Bitcoin bond issue, known as Volcano Bonds El Salvador’s government, led by President Nayib Bukele, has moved ahead with plans to issue Bitcoin bonds by preparing 20 bills designed to provide a legal framework for them.Head of the Treasury Alejandra Zelaya told El Salvadoran media El Mundo on Jan. 4 that the bills will cover regulations about issuing securities as cryptocurrency to ensure the viability of the Bitcoin bonds that were proposed in Nov. 2021. He said:"[This is]....