{"id":72417,"date":"2023-01-12T11:02:00","date_gmt":"2023-01-12T09:02:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72417"},"modified":"2025-09-08T15:01:19","modified_gmt":"2025-09-08T12:01:19","slug":"el-salvadors-parliament-approves-law-to-issue-bitcoin-bonds","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvadors-parliament-approves-law-to-issue-bitcoin-bonds\/","title":{"rendered":"El Salvador\u2019s Parliament approves law to issue Bitcoin bonds"},"content":{"rendered":"<p>The Salvadoran Parliament passed a law providing the legal basis for issuing digital assets, including Bitcoin-based bonds.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"es\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Plenaria90?src=hash&#038;ref_src=twsrc%5Etfw\">#Plenaria90<\/a>\u270d\ud83c\udffb Con 62 votos a favor, creamos la Ley de Emisi\u00f3n de Activos Digitales. <a href=\"https:\/\/t.co\/g1poXwLoH3\">pic.twitter.com\/g1poXwLoH3<\/a><\/p>\n<p>\u2014 Asamblea Legislativa \ud83c\uddf8\ud83c\uddfb (@AsambleaSV) <a href=\"https:\/\/twitter.com\/AsambleaSV\/status\/1613278171041759232?ref_src=twsrc%5Etfw\">January 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Authorities began examining the document, intended to bring order to the regulatory framework governing interactions with issuers of virtual assets and users, in November 2022.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe law also paves the way for Volcano Bond, which we will soon begin issuing\u00bb, said the <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-creates-national-bitcoin-office\">National Bitcoin Office<\/a> of El Salvador (ONBTC).<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Today El Salvador builds on our first-mover advantage by passing landmark legislation establishing a legal framework for all digital assets that are not bitcoin. As well as those issued on bitcoin.<\/p>\n<p>The law also paves the way for volcano bonds which we will soon begin issuing.<\/p>\n<p>\u2014 The Bitcoin Office (@bitcoinofficesv) <a href=\"https:\/\/twitter.com\/bitcoinofficesv\/status\/1613274373066051587?ref_src=twsrc%5Etfw\">January 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The idea of this tokenised security was <a href=\"https:\/\/u1f987.com\/en\/news\/bitfinex-to-donate-over-1-million-to-small-businesses-in-el-salvador\">first floated<\/a> in July 2022, when Bitfinex announced a partnership with Salvadoran authorities on Bitcoin initiatives.\u00a0<\/p>\n<p>The issuance is expected to raise $1 billion. According to <a href=\"https:\/\/blog.bitfinex.com\/announcements\/el-salvadors-historic-digital-asset-securities-law-passes\/\">Bitfinex&#8217;s statement<\/a>, funds would be used to repay sovereign debt, build mining infrastructure, and finance Bitcoin City.<\/p>\n<p>After the first cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-legalises-bitcoin-as-government-buys-550-btc\">was recognised as legal tender<\/a> in September 2021, El Salvador already in the following month <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-begins-bitcoin-mining-on-volcano-powered-energy\">began mining digital gold<\/a> using geothermal energy from the volcano.\u00a0<\/p>\n<p>In November 2021, President Nayib Bukele <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-to-issue-1-billion-bitcoin-bonds-on-the-liquid-network\">announced plans for Bitcoin City<\/a> along the Gulf of Fonseca. The city is planned to be a special economic zone with no taxes on income, property, capital gains, or wages.\u00a0<\/p>\n<p>To power it, a geothermal power plant will be built near the volcano. Its capacity will also be used for Bitcoin mining.<\/p>\n<p>Despite <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-to-issue-first-bitcoin-bonds-in-march\">statements<\/a> about issuing Volcano Bond in March 2022, authorities throughout that year <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-says-it-is-not-ready-to-issue-bitcoin-bonds-in-the-near-term\">delayed the issue<\/a> of security tokens, citing unfavourable conditions.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abEl Salvador is at the epicentre of Bitcoin adoption and, therefore, economic freedom, financial sovereignty, resistance to censorship, and non-confiscatable wealth. When we issue the first Volcano Bond, we will once again open the path for advancing this monetary revolution\u00bb, said ONBTC.<\/p>\n<\/blockquote>\n<p>The law also provides protections for issuers and consumers in the crypto space against fraud. The new National Commission on Digital Assets will oversee and regulate the space.<\/p>\n<p>Earlier, in July 2022, the country\u2019s finance minister Alejandro Zelaya said that legalising Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-cites-benefits-of-bitcoin-legalization\">had brought benefits to El Salvador<\/a>, despite the price drop.<\/p>\n<p>Read ForkLog\u2019s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Salvadoran Parliament passed a law providing a legal basis for issuing digital assets, including Bitcoin-based bonds.<\/p>\n","protected":false},"author":1,"featured_media":72418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1278,36],"class_list":["post-72417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-el-salvador","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72417"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72417\/revisions"}],"predecessor-version":[{"id":72419,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72417\/revisions\/72419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72418"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}