The legislative assembly of El Salvador has passed a digital securities bill that allows for the issuance of bonds based on Bitcoin. The bill, which was first introduced in November, was passed with 62 votes in favor.
The bill establishes a legal framework for the transfer of digital assets used in public offerings in El Salvador, including the issuance of Bitcoin bonds.
The bill also calls for the creation of a national digital assets commission, which will serve as a regulatory body and promote the market, as well as a Bitcoin Fund Administration Agency, which will focus on the management and investment of funds from public offerings of digital assets carried out by the Salvadoran state.
While the bill has been passed, it’s not without its critics. Some have said that the bill does not respond to the problems of the public, and it was not passed unanimously.
The main purpose of the bill is to facilitate the issue of volcano “Volcán” bonds, which are bonds that are issued to finance projects related to the conservation and protection of the environment.
The bill is a significant step forward for the country, as it allows for the legal transfer of digital assets and the ability to issue bonds based on Bitcoin, which is a major development in the cryptocurrency space.
It also creates a regulatory framework for digital assets, which provides legal certainty for investors and businesses.
