El Salvador is Developing a Legal Framework to Issue Bitcoin-based Bonds

El Salvador’s Parliament has just passed a bill that confirms the status of Bitcoin as a means of payment in the domestic market and creates a regulatory framework that will be used by the authorities to implement the so-called BTC bonds.

Recall that the country has repeatedly planned to release them since the beginning of 2022.

After the adoption of the bill by the deputies of the Assembly, it still must be signed by Nayib Bukele, the President of El Salvador, who is actually the person who initiated the legalization of Bitcoin back in 2021.

The bill states that infrastructure for crypto transactions will be created in El Salvador. The funds raised to the budget through the sale of BTC bonds will be used to create a technical base for the development of the local digital currency market.