El Salvador president wants to offer citizenship: is it for Bitcoin?
The El Salvador president sent 52 legal reforms to lawmakers to push the investment in the country from foreign countries.
El Salvador is the first country in the world, which adopted Bitcoin as Currency alongside the US dollar use case. At the present time, the El Salvador government is working on its Bitcoin-backed bond to get investment to work on the Bitcoin mining operations to generate revenue and better returns to the Bitcoin bond investors.
On 20 February, Nayib Bukele, El Salvador’s president, informed all his followers that he introduced 52 legal reforms to Congress. The legal reform list included significant things such as elimination of red tape, reducing bureaucracy, tax incentives, and importantly, offering citizenship to foreigners looking to invest in the nation.
I’m sending 52 legal reforms to congress, to remove red tape, reduce bureaucracy, create tax incentives, citizenship in exchange for investments, new securities laws, stability contracts, etc.
— Nayib Bukele
The plan is simple: as the world falls into tyranny, we’ll create a haven for freedom.(@nayibbukele) February 20, 2022
These things are hinting that El Salvador wants to welcome other countries’ investors in the Bitcoin bond and other sectors to make El Salvador economically much stronger over other countries in the world.
On Twitter, many times people asked in the comment section whether they can get El Salvador citizenship to remain with full freedom in the country because of Bitcoin use. Probably Mr president noted such comments and proposed these legal reforms.
El Salvador president against US senators proposed bill
Last week, a group of senators in the United States introduced new legislation to help El Salvador to keep the risk factors away from the country because of Bitcoin adoption. In response, Nayib Bukele said that El Salvador is an independent country and it is not a colony of US rulers.
OK boomers…
— Nayib Bukele
You have 0 jurisdiction on a sovereign and independent nation.
We are not your colony, your back yard or your front yard.
Stay out of our internal affairs.
Don’t try to control something you can’t control
https://t.co/pkejw6dtYn
If Nayib Bukele continuously works on Bitcoin and El Salvador to open the portal toward a better approach to development then surely El Salvador will create a different position in the world.
Read also: Reports claim Intel’s Bitcoin mining chip is less efficient
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