According to the statements made by the Finance Minister of El Salvador, the government is taking legal action for the issuance of bitcoin bonds.
During an interview on Tuesday, Finance Minister Alejandro Zelaya said that the bills they are preparing to present to Congress are a part of Bitcoin bonds. “will provide legal ground and legal certainty for buyers of Bitcoin bonds” explained.
According to statements confirmed by El Salvador President Nayib Bukele, the government is preparing to present around twenty bills to Congress regarding Bitcoin bonds.
The Bitcoin bonds that the El Salvador government plans to issue this year are expected to be worth $1 billion in total and have a coupon rate of 6.5 percent.
According to the government’s statements, half of the income from the issuance of the bonds creating a budget for infrastructure projects, the rest is to buy more bitcoins. will be used.
El Salvador discontinued Bitcoin last year in the face of the warning of institutions such as the International Monetary Fund. recognized as a legal currency achieved the status of the first country. Since then, the government has more than 1,300 bitcoins he bought.
The government, which provides Bitcoin-focused infrastructure services during the issuance of bonds blockstream will work with. Blockstream to El Salvador Lightning Network It also helps to improve infrastructure.