EL Salvador steps forward to open a second Bitcoin Embassy in Texas

The government of El Salvador waited to answer Decrypt’s inquiries. Apart from informing the public about the most prominent cryptocurrency in the world,

Highlights

• The government of El Salvador waited to answer Decrypt’s inquiries.
• El Salvador was the first nation to recognize Bitcoin as legal money alongside the dollar formally in September 2021.
• The government has also continued promoting Bitcoin efforts inside and outside the country.
• In November, it established a state-run Bitcoin Office as an official division of the Salvadoran government.
• Its job is to encourage the use of bitcoin, develop strategies and policies, and help bitcoin firms who want to relocate to El Salvador take advantage of the country’s legal framework.
• The nation has recently established new Digital Disclosure rules, which show a framework for the regulation of the issuing of cryptocurrency tokens.

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