El Salvador has passed the long-awaited digital securities law that will pave the way for Bitcoin (BTC) bonds.
El Salvador Legislative Assembly, bitcoin digital assets that will pave the way for bonds and to regulate the public offering in a legal framework approved the digital securities law introduced for The approval of this law on the issuance of digital assets was an important step for Bitcoin bonds (volcano bonds) backed by President Nayib Bukele. Also, this bill with the approval for the management of digital assets in addition to bonds a new government agency declared to be created.
This new government agency is funded by funds from digital asset IPOs run by El Salvador and its autonomous institutions. administration, storage and investment will be responsible. This Bitcoin-backed bond March of 2022 It was planned to be approved and activated in April, but it has been a year. due to the ongoing bear market It has been delayed many times. Finally, about 2 months ago, the bill was submitted to the legislature.
Digital asset bill on vote submitted to Legislature 62 favors and 16 con got votes. against the law dissident party membersargued that Bitcoin bonds are of no use to the public. In addition, opponents of these transactions made with Bitcoin money laundering, tax evasion and to borrow more He claimed it made it easier.