Markets News

El Salvador Issues the First Bitcoin Bonds in History with Regulatory Approval

single-image

It has been suggested in multiple tweets on social network X by President Nayib Bukele that the bonds will launch in the first quarter of 2024.

CryptoCaster Quick Check:

According to a post made on Tuesday by the nation’s Bitcoin-focused office, El Salvador’s long-planned Bitcoin bonds have gotten a little bit closer to reality after seemingly obtaining regulatory approval for an early 2024 issuance.
The bonds will be made available on Bitfinex Securities, a licensed branch of Bitfinex, a cryptocurrency exchange.

Stay in the know on crypto by frequently visiting Crypto News Today

The National Bitcoin Office of El Salvador announced on its X account that “The Volcano Bond has just received regulatory approval from the Digital Assets Commission (CNAD).” “We expect the bond to be issued in 2024 in the first quarter.”

Apparently confirming the permission on X, President Nayib Bukele posted “Wen volcano bond?” early on Tuesday and reposted other postings indicating the bonds would be issued in Q1 2024.
President Nayib Bukele introduced the so-called “Volcano bonds” in 2021, not long after he signed a bill designating bitcoin (BTC) as legal cash in the nation.
With the help of the bitcoin-backed bonds, Bukele hoped to earn $1 billion, which would launch a bitcoin mining business that would only use green energy sources, such as the nation’s active volcanoes.

Advertisement

Originally scheduled for March 2022, issuance was repeatedly delayed. Nevertheless, at the end of November 2022, the digital assets law was eventually introduced in the Legislative Assembly, which is presided over by Bukele’s party, Nuevas Ideas.

After 62 lawmakers voted in favor of the bill and 16 against it today, the legislation was ultimately passed in January 2021.
This is the second significant swing centered around bitcoin in as many weeks. Previously, El Salvador launched its “Freedom VISA” program, awarding residency to up to 1,000 individuals every year who invest a minimum of $1 million in bitcoin or USDT stablecoins.CRYPTOCASTER® - DECENTRALIZED FREEDOM!


We hope you found this article insightful. Before you go, please consider supporting CryptoCaster’s independent journalism.

In the world of media owned by billionaires like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase), influence over narratives surrounding cryptocurrency and Web3 often reflects their interests. CryptoCaster is different. With no billionaire backers or shareholder obligations, we are committed solely to public interest journalism, covering crypto advancements and institutional changes without profit-driven motives.

Unlike much of mainstream media, which can fall into neutrality traps that obscure the real impacts on retail investors, we’re guided by transparency and integrity. We are unafraid to take a stand in the ongoing struggle against fiat banking dominance and in support of the monetary innovation driven by crypto and Web3. Reporting on issues like FTX, Binance, and Ripple, we bring a bold, unfiltered outsider’s view on global financial disruption—free from the constraints of traditional media narratives.

CryptoCaster remains paywall-free, accessible to everyone, thanks to the support of readers like you. Your contributions keep us independent and help ensure that critical information on the crypto landscape reaches all. If you value our work, please consider supporting us with a one-time contribution starting at just $1 in Bitcoin or Ether, or even monthly if you’re able. Scroll down to find our wallet addresses and help keep CryptoCaster independent and thriving.

Thank you for your support,

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.


Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D


CRYPTOCASTER HEATMAP


You may also like