In a surprising move on Thursday, December 21, El Salvador’s Congress has given the green light to a migration law that facilitates expedited citizenship for foreigners making “donations” in Bitcoin towards government social and economic development initiatives.
El Salvador New Reforms for Bitcoin Investors
The unicameral legislature, in an unexpected vote on Wednesday night, approved the reform, receiving backing from President Nayib Bukele’s New Ideas party, which holds control over Congress. The newly passed law is anticipated to be enacted in the coming days. This development adds another layer to El Salvador’s unique integration of cryptocurrency into its legislative framework.
President Nayib Bukele is vying for re-election in the upcoming election scheduled for Feb. 4 in the Central American nation. The reform under consideration emphasizes the “vital interest” of the president’s development initiatives, with a focus on encouraging “altruistic foreigners intere
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