Salvadoran President Najib Bukele wants to grant citizenship to those who invest in the small Central American country.
On Sunday, President Bukele took to Twitter to inform the cryptocurrency community that he would send a list of 52 legal reforms to Congress. Among the most notable proposals, Bukele called for eliminating bureaucracy, reducing bureaucracy, creating tax incentives and most importantly, offering citizenship to foreigners who want to invest in the country.
The president promised to make El Salvador one of the most fratricist countries at a time when the world is slipping into “authoritarianism.”
Bukele has become a standard bearer for Bitcoin (BTC) adoption, but is for similar reasons an equally controversial figure in international politics. Recently, a two-part group of US senators introduced new legislation in an attempt to reduce the risk associated with El Salvador’s introduction of Bitcoin as a legal tender.
Related: El Salvador opens Bitcoin City backed by $ 1 billion BTC bonds
President Bukele condemned the new law, calling US senators “baby boomers” and reminding them that they have no jurisdiction over an independent and sovereign nation.
El Salvador is preparing to launch its long-awaited $ 1 billion Bitcoin Volcanic Bond next March. The income from the bonds will be used to build the world’s first bitcoin city.
El Salvador made history in September last year when it became the first country in the world to introduce bitcoin as a legal tender along with the US dollar. While most international organizations, including the World Bank and the International Monetary Fund, continued to warn about the harmful effects of using bitcoin as a legal tender, the country has reportedly achieved over 10% GDP growth, the highest in its history. history. .