על סאַלוואַדאָר פאָרלייגן ישואַנס ביל פֿאַר גאַנץ קריפּטאָ אַדאָפּטיאָן

El Salvador President Nayib Bukele remains unperturbed during the deepening קריפּטאָ ווינטער. His economy minister has just submitted a bill facilitating the full legalization of cryptocurrencies.

El Salvador Minister of the Economy Maria Luisa Hayem Brevé has submitted a Digital Assets Issuance bill. The lengthy דאָקומענט outlines the formal expansion of a legal framework for the adoption of all cryptocurrencies in El Salvador.

The bill was submitted to the legislative assembly for discussion by Congress. Additionally, crypto lawyer Ana Ojeda Caracas explained the details on Nov. 23.

El Salvador Full Steam Ahead on Crypto

The crypto law, if passed, will regulate transfers of any crypto asset type, not just ביטקאָין, which is already legal tender. It seeks to “promote the efficient development of the digital asset market and protect the interests of acquirers,” according to a translation.

Additionally, it also separates crypto from other financial assets fashioning an entirely new framework for them. This is needed in the U.S., which instead seeks to lump them into decades-old laws regarding securities.

According to Caracas, the bill would result in the following if approved (translation):

• Creation of a registry of digital asset suppliers/providers.
• Full crypto legalization.
• Definition of stablecoins and tokens.
• רעגולירן פון ציבור אָפרינגז פון דיגיטאַל אַסעץ.
• שטייער באַפרייַונג אין עטלעכע קאַסעס.

She added that the bill originated directly from the President’s office. Furthermore, delays in discussions and approval are unlikely. The law will finalize “shaping the crypto ecosystem in El Salvador,” she said.

When President Bukele introduced the Bitcoin Law in June 2021, it was approved by the National Assembly within a few hours. Furthermore, BTC was made לעגאַל ווייך in the country in September of that year.

טעטהער CTO Paolo Ardoino קאַמענטאַד:

"דיגיטאַל סיקיוראַטיז געזעץ וועט געבן על סאַלוואַדאָר צו זיין די פינאַנציעל צענטער פון סענטראַל און דרום אַמעריקע."

Green Light for Volcano Bonds

Additionally, the bill paves the way for the issuance of the El Salvador ווולקאַן בונד, originally announced in November 2021.

According to the ‘ניייב טראַקער,’ the El Salvador BTC stash of 2,392 coins is currently worth $39.5 million. However, it has lost $67.8 million, around 63%, since Bukele started buying in early September 2021.

The millennial president remains unruffled, however, vowing to buy 1 BTC per day from Nov. 18. Nevertheless, he is currently stacking at a discount compared to the dollar cost average of $44,873.

אָפּלייקענונג

אַלע די אינפֿאָרמאַציע קאַנטיינד אויף אונדזער וועבזייטל איז ארויס אין גוטן אמונה און בלויז פֿאַר אַלגעמיינע אינפֿאָרמאַציע צוועקן. קיין אַקציע וואָס די לייענער נעמט אויף די אינפֿאָרמאַציע געפֿונען אויף אונדזער וועבזייטל איז שטרענג אויף זייער אייגן ריזיקירן.