El Salvador Secures Regulatory Approval for Revolutionary Bitcoin Bonds

Adekunle Joshua

El Salvador's long-anticipated Bitcoin bonds are set for issuance in Q1 2024 after receiving regulatory approval from the Digital Assets Commission (CNAD)

The "Volcano Bonds" aim to raise $1 billion on Bitfinex Securities, contributing to President Nayib Bukele's vision of supporting a Bitcoin mining industry powered by renewable energy from the country's active volcanoes

President Bukele confirmed the regulatory approval

This milestone follows the law passed in November 2022, which recognized Bitcoin as legal tender in the country

Furthermore, the country recently introduced the "Freedom VISA" program.