- El Salvador approves its new Digital Securities Law.
- The 33-page digital securities bill won with 62 votes to 16.
- Once President Bukele signs the bill, it will be published as an official law.
El Salvador continues to amaze the crypto world. To kick off the new year, El Salvador has made its latest announcement. The nation’s Legislative Assembly has just approved its new Digital Securities Law.
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This new Digital Securities Law will now be sent to the President of El Salvador, Nayib Bukele to be ratified. After which, the law will then be published officially in the Official Gazette when it will become law.
As we can see above, the tweet says the next logical step for El Salvador will be to launch Bitcoin Bonds. This is certainly in line with the nation’s plan as the country has already taken its first step to issue Bitcoin Volcano Bonds.
In detail, El Salvador has put in motion a bill to enable the launch of its Bitcoin Volcano Bonds. Specifically, the project aims to draw financial investors to El Salvador. More so, it plans to issue $1 billion in bonds on the Liquid Network.
This comes as no surprise to the world who is now used to expecting innovative crypto-driven initiatives and solutions from the crypto-positive President Bukele. After all, it was this political leader who wowed the world by making Bitcoin a legal tender back in 2021.
Now with the Digital Securities Law in place, the nation will soon be able to raise funds via the world’s first sovereign blockchain bond. The country’s Congress passed the bill with 62 votes to 16. The new law will also establish a legal framework for issuing digital assets and as well as the wider crypto token classification state.
This new digital asset regulatory framework will also establish a Bitcoin Fund Management Agency. The agency will provide administration and oversight for public offerings of digital assets issued by the country and its institutions.
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