El Salvador Submits Bitcoin Bond Bill – Bitcoin Magazine

El Salvador Submits Bitcoin Bond Bill – Bitcoin Magazine

November 26, 2022 by keithhill530
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[ad_1] El Salvador’s Minister of the Economy Maria Luisa Hayem Brevé submitted a digital assets issuance bill to the country’s legislative assembly, paving the way for the launch of its bitcoin-backed “volcano” bonds. First announced one year ago today, the pioneering initiative seeks to attract capital and investors to El Salvador. It was revealed at
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El Salvador’s Minister of the Economy Maria Luisa Hayem Brevé submitted a digital assets issuance bill to the country’s legislative assembly, paving the way for the launch of its bitcoin-backed “volcano” bonds.

First announced one year ago today, the pioneering initiative seeks to attract capital and investors to El Salvador. It was revealed at the time the plans to issue $1 billion in bonds on the Liquid Network, a federated Bitcoin sidechain, with the proceedings of the bonds being split between a $500 million direct allocation to bitcoin and an investment of the same amount in building out energy and bitcoin mining infrastructure in the region.



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