El Salvador Legislators Pass Law Allowing Bitcoin Bond Sales

El Salvador Legislators Pass Law Allowing Bitcoin Bond Sales

El Salvador’s presidential administration has spent hundreds of millions of dollars to roll out bitcoin as a national currency.

El Salvador’s lawmakers approved legislation to regulate bond sales backed by crypto assets, a measure that aims to raise funds tied to the value of bitcoin and other digital assets, President Nayib Bukele said Wednesday.

The Digital Asset Issuance Law was approved with 62 votes in favor and 16 against at the country’s National Assembly. Mr. Bukele’s New Ideas party has a majority in the country’s legislature.


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