El Salvador's President Nayib Bukele, known for his pro-Bitcoin stance, is suggesting the creation of private investment banks in the country. These banks, if established, would provide Bitcoin investors with access to financial services with fewer restrictions compared to traditional banks. The proposed Bank for Private Investment (BPI) aims to diversify financing options in both Dollars and Bitcoin. This initiative comes shortly after Bukele's re-election and is supported by key figures in the Bitcoin community. The BPI would operate under more relaxed regulations than traditional banks, allowing for greater flexibility in investments and loans. The proposal, presented by El Salvador's Minister of Economy, is still pending approval by the legislative commission. If approved, the BPI would have a minimum capital requirement and could potentially offer digital asset services. This move aligns with El Salvador's efforts to embrace Bitcoin as legal tender and promote economic growth. Read more AI-generated news on: https://app.chaingpt.org/news