Regulators in El Salvador were quick to approve the issuance of the highly anticipated Bitcoin Volcano Bond.
Salvadoran regulators have approved the issuance of the bond in early 2024, ending the wait for a Bitcoin volcano bond.
Bitcoin bond issuance date confirmed
Building on its Bitcoin-friendly reputation, the government of El Salvador is continuing to provide approvals for crypto-related businesses. The latest news is that El Salvador’s Bitcoin Volcano Bond will be officially issued in the first quarter of 2024. The Commission on Digital Assets (CNAD) has reportedly approved the regulation of Volcano Bonds. CNAD is the government agency responsible for regulating the digital asset ecosystem in El Salvador.
The country’s president Nayib Bukele tweeted:
It remains to be seen whether the bonds will have a unified time frame (such as one year) or can be traded like any other cryptocurrency. The Latin American country first floated the idea of a Bitcoin volcano bond in early 2024, when media reported that the country’s government envisioned a Bitcoin city. Reports emerged at the time that the cryptocurrency exchange would issue “Volcano” tokens, which were originally bonds issued via the blockchain.
What are Bitcoin Volcano Bonds
Since making Bitcoin legal tender, El Salvador has taken aggressive steps aimed at capitalizing on Bitcoin’s volatility. The government initially planned to raise about $1 billion through Volcano Bonds, half of which would be used to build a tax-free Bitcoin City and the other half to invest in BTC.
Recently, President Bukele launched a new residency program for high net worth individuals, offering citizenship to those who are able to make substantial investments in the BTC or USDT stablecoins. This is a citizenship by investment program called the El Salvador Freedom Visa Program that offers citizenship to up to 1,000 people. #比特币债券 #萨尔瓦多
