Salvadoran President Nayib Bukele will send to Congress a proposal to grant Salvadoran citizenship to foreigners who invest in the country as well as other initiatives to reduce government obstacles in order at attract investment projects, announced Sunday.
Bukele did not specify whether the bills would exclusively target bitcoin-related entrepreneurs, but during the week he called El Salvador “the land of #Bitcoin freedom.”
“I am sending 52 legal reforms to congress to remove bureaucracy, reduce bureaucracy, creating tax incentives, citizenship, in to exchange for investments, new securities laws, stability contracts, etc. said Bukele on Twitter.
El Salvador in September has become the first the country in the world establish bitcoin as legal tender, in parallel to the United States dollarone decision who has triggered criticism of the monetary fund international (IMF) for the volatility and the risks involved in the country’s finances.
Bukele plans launch 1 billion in bitcoin obligations in March with the goal of raise funds to finance the construction of a “bitcoin city” project and buy more cryptocurrencies.
