El Salvador’s Assembly Approves Bitcoin Bonds Bill – Bitcoin Magazine

El Salvador has voted to pass a bill which paves the way for the issuing of President Nayib Bukele’s bitcoin bonds.

The plan, which was announced in November 2021, would entail El Salvador issuing $1 billion in bonds on Blockstream’s Liquid Network, a federated Bitcoin sidechain. The goal of the bond issuance would be to invest half of the money into bitcoin, and the other half into infrastructure necessary to build out the bitcoin industry in the Central American country. The bonds, according to the statement at the time, would yield 6.5% and enable a fast-track for investors to acquire citizenship in the country.

Exactly one year after the announcement of the plan, the bill that was voted on today was introduced by El Salvador’s Minister of the Economy Maria Luisa Hayem Brevé to the country’s legislative assembly as the next step towards this plan. With today’s approval, the country is much closer to making the bitcoin bonds a reality.

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