El Salvador to issue Bitcoin bonds worth $1 billion
El Salvador continues establishing legal frameworks regulating the issuance of Bitcoin bonds. The country is currently looking at creating $1 billion worth of Bitcoin bonds.
The funds received from the Bitcoin bonds will be spent on infrastructure for Bitcoin City, which is poised to provide digital and technological education, as well as rely on geothermal energy.
The El Salvador government promotes Bitcoin City as a tax haven, with zero municipal taxes, as well as that on income, capital gains, property.
The funds raised through Volcano Bonds can also be used to pay down an $800 million Eurobond issue which will mature in Jan. 2023.
As you may know, at UCoin we keep our ears to the ground when it comes to global cryptocurrency trends in general, and in South America in particular! It is this region that we focused on last year in our effort to popularise cryptocurrencies and make sure more people know what Bitcoin is!
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