The Salvadoran President Nayib Bukele wants to offer citizenship to those who invest in the small Central American nation.
President Bukele took to Twitter to inform the cryptocurrency community on Sunday that he was submitting a list of 52 legal reforms to Congress. Among the most outstanding proposals, Bukele called for the elimination of paperwork, the reduction of bureaucracy, the creation of tax incentives and, most importantly, offering citizenship to foreigners who want to invest in the nation..
I’m 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.
The plan is simple: as the world falls into tyranny, we’ll create a haven for freedom.
– Nayib Bukele (@nayibbukele) February 20, 2022
I am going to send 52 legal reforms to Congress, to eliminate paperwork, reduce bureaucracy, create tax incentives, citizenship in exchange for investments, new securities laws, stability contracts, etc. The plan is simple: as the world falls into tyranny, we will create a haven for freedom.
The president promised to make El Salvador one of the most freedom-focused countries at a time when the world falls into “tyranny”
Bukele has become a standard bearer for Bitcoin (BTC) adoption, but an equally controversial figure in international politics for the same reasons.. Recently, a bipartisan group of senators in the United States introduced new legislation, seeking to mitigate the risks posed by El Salvador’s adoption of BTC as legal tender.
President Bukele rebuked the new legislation and called US senators “boomers” while reminding them that they have zero jurisdiction over a sovereign and independent nation..
okay boomers…
You have 0 jurisdiction on a sovereign and independent nation.
We are not your colony, your back yard or your front yard.
Stay out of our internal affairs.
Don’t try to control something you can’t control
https://t.co/pkejw6dtYn– Nayib Bukele (@nayibbukele) February 16, 2022
OK boomers… You have zero jurisdiction over a sovereign and independent nation. We are not your neighborhood, your front or backyard. Stay out of our internal affairs. Don’t try to control something you can’t control.
El Salvador is all set to launch its long-awaited $1 Billion Bitcoin Volcanic Bonds in the next month. The funds generated by the bonds would be used to build the world’s first Bitcoin city.
El Salvador made history last year, in September, when it became the first country in the world to make Bitcoin legal tender alongside the US dollar.. While most international organizations, including the World Bank and the International Monetary Fund, continued to issue warnings against the harmful effects of using BTC as legal tender, the country reportedly achieved gross domestic product growth of over 10%, the highest in its history.
El Salvador’s GDP grew 10.3% in 2021.
And now its exports (a main driver of economic growth) grew 13% this January, compared to January 2021.
Are we looking at another double digit GDP growth this year?
By the way, El Salvador never had a double digit GDP growth before 2021. https://t.co/f9yMkPpLNJ
– Nayib Bukele (@nayibbukele) February 19, 2022
El Salvador’s GDP grew by 10.3% in 2021.
And now its exports (the main engine of economic growth) grew by 13% in January, compared to January 2021.
Are we looking at another double-digit GDP growth this year?
By the way, El Salvador never had double-digit GDP growth before 2021.
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