{"id":45266,"date":"2022-02-21T11:29:17","date_gmt":"2022-02-21T10:29:17","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=45266"},"modified":"2022-02-21T11:29:17","modified_gmt":"2022-02-21T10:29:17","slug":"nayib-bukele-wants-to-attract-crypto-investors-to-el-salvador","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/nayib-bukele-wants-to-attract-crypto-investors-to-el-salvador\/","title":{"rendered":"Nayib Bukele Wants to Attract Crypto Investors to El Salvador"},"content":{"rendered":"<p style=\"text-align: justify\">Despite facing criticism from all corners, <strong>El Salvador<\/strong> <strong>president Nayib Bukele has announced new proposals to makes his country a crypto heaven for foreign investors.<\/strong><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\">In a tweet on Sunday, February 20, <strong>Nayib Bukele said that he had plans to introduce a series of reforms to offer citizenships to foreign investors and create a business-friendly environment in El Salvador<\/strong>. As part of his plans, he is sending 52 legal reforms proposal to his country\u2019s Congress.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I\u2019m sending 52 legal reforms to congress, to remove red tape, reduce bureaucracy, create tax incentives, citizenship in exchange for investments, new securities laws, stability contracts, etc.<\/p>\n<p>The plan is simple: as the world falls into tyranny, we\u2019ll create a haven for freedom.<\/p>\n<p>&mdash; Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1495278787684179973?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">February 20, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">Bukele did not specify whether the bills would be aimed exclusively at bitcoin-linked entrepreneurs. He wrote:<\/p>\n<p style=\"text-align: center\"><em>\u201cI\u2019m sending 52 legal reforms to congress, to remove red tape, reduce bureaucracy, create tax incentives, citizenship in exchange for investments, new securities laws, stability contracts, etc.<\/em><\/p>\n<p style=\"text-align: center\"><em>The plan is simple: as the world falls into tyranny, we\u2019ll create a haven for freedom.\u201d<\/em><\/p>\n<h2 style=\"text-align: justify\"><strong>Determined Nayib Bukele<\/strong><\/h2>\n<p style=\"text-align: justify\"><strong>Embracing Bitcoin<\/strong>, the world largest cryptocurrency by market cap, <strong>as a legal currency has made El Salvador president Nayib Bukele a crypto celebrity<\/strong>. However, he is facing strong criticism for his move from <strong>International Monetary Fund (IMF), the World Bank, and the US<\/strong>, which repeatedly cites the cryptocurrency\u2019s notorious volatility and the lack of any protections for its users.<\/p>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-44937 size-large\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/1_bitcoin-1024x576.jpg\" alt=\"Are the Bitcoin bulls back this 2022?\" width=\"696\" height=\"392\" \/><\/p>\n<p style=\"text-align: justify\">As Crypto Economy <a href=\"https:\/\/crypto-economy.com\/imf-advises-el-salvador-to-eliminate-bitcoin-as-legal-currency\/\">reported<\/a> earlier, in January, <strong>IMF executive directors, who represent the fund\u2019s 190-member nations, advised El Salvador to drop the legal status of Bitcoin<\/strong> highlighting the coin\u2019s risks to the financial stability.<\/p>\n<p style=\"text-align: justify\">Since the last week, <a href=\"https:\/\/www.foreign.senate.gov\/#sfrc-hearings\" target=\"_blank\" rel=\"noopener\">diplomatic conflict<\/a> between the US and El Salvador on Bitcoin has escalated. On February 16, three United States Senators <a href=\"https:\/\/crypto-economy.com\/bukele-responds-to-the-united-states-senate-dont-try-to-control-something-you-cant-control\/\">introduced<\/a> the <strong>Accountability for Cryptocurrency in El Salvador (ACES) Act, legislation requiring a State Department report on El Salvador\u2019s adoption of Bitcoin<\/strong>, as legal tender and a plan to mitigate any potential risks to the United States financial system.<\/p>\n<p style=\"text-align: justify\">Nevertheless, <strong>Bukele seems undeterred from these warnings and advises as he is pushing forward with his plans to make El Salvador a Bitcoin-nation<\/strong>. His fiery response to the Accountability for Cryptocurrency in El Salvador (ACES) Act shows that he is not ready to let anyone to block his way as he said:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">OK boomers\u2026<\/p>\n<p>You have 0 jurisdiction on a sovereign and independent nation.<\/p>\n<p>We are not your colony, your back yard or your front yard.<\/p>\n<p>Stay out of our internal affairs.<\/p>\n<p>Don\u2019t try to control something you can\u2019t control \ud83d\ude09<br \/> <a href=\"https:\/\/t.co\/pkejw6dtYn\" target=\"_blank\">https:\/\/t.co\/pkejw6dtYn<\/a><\/p>\n<p>&mdash; Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1494066643625988107?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">February 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: center\"><em>\u201cOK boomers\u2026<\/em><\/p>\n<p style=\"text-align: center\"><em>You have 0 jurisdiction on a sovereign and independent nation.<\/em><\/p>\n<p style=\"text-align: center\"><em>We are not your colony, your back yard or your front yard.<\/em><\/p>\n<p style=\"text-align: center\"><em>Stay out of our internal affairs.<\/em><\/p>\n<p style=\"text-align: center\"><em>Don\u2019t try to control something you can\u2019t control\u201d<\/em><\/p>\n<p style=\"text-align: justify\">El Salvador already has two big initiatives in the pipeline: the issuance of <strong>Bitcoin bonds<\/strong> and the development of a Bitcoin City. <strong>The country plans to launch 1 billion in Bitcoin bonds in March<\/strong> with the intention of elevating funds to finance the development of a <strong>Bitcoin City<\/strong> and purchase extra cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite facing criticism from all corners, El Salvador president Nayib Bukele has announced new proposals to makes his country a crypto heaven for foreign investors.<\/p>\n","protected":false},"author":14,"featured_media":45276,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,103,74],"tags":[5445,5509,5537],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/45266"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=45266"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/45266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/45276"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=45266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=45266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=45266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}