El Salvador Drafts 20 Bills for Legal Structure of Bitcoin Bonds — Funds to Be Used to Build Bitcoin City, Buy BTC

El Salvador Drafts 20 Bills for Legal Structure of Bitcoin Bonds — Funds to Be Used to Build Bitcoin City, Buy BTC


El Salvador is preparing to introduce 20 bills to provide a legal framework for its upcoming bitcoin bonds. The funds raised will be used to build infrastructure for Bitcoin City and buy more bitcoin, the Salvadoran government explained.

El Salvador Drafting Legal Framework for Bitcoin Bonds

El Salvador’s finance minister, Alejandro Zelaya, said in an interview on local television Tuesday that his government will send about 20 bills to Congress concerning the country’s bitcoin bonds.

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The bills will cover financial markets and investment in securities to provide a legal foundation for issuing bitcoin bonds, he explained, adding that the legislation will create a framework to cover corresponding market regulation and issuance of securities in crypto assets. The finance minister described:

(This is) to provide a

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