El Salvador, the Central American countrythat emerged as the first nation to officially adopt Bitcoin as a legaltender in September 2021 has announced plans to open a ‘Bitcoin Embassy’ in the United States. The country wants to open the office in Texas,one of the United States’ most crypto-friendly states.
Milena Mayorga, El Salvador’s Ambassadorto the United States, announced the development on Tuesday through Twitter, noting that the country discussed “expanding commercial and economic projects”in its meeting with Joe Esparzam, the Assistant Secretary of the Government ofTexas.
— Milena Mayorga (@MilenaMayorga) February 14, 2023El estado de Texas, nuestro nuevo aliado.
En mi encuentro con el Secretario Adjunto del Gobierno de Texas, Joe Esparza @TXsecofstate, abordamos la apertura de la segunda Embajada #Bitcoin y de ampliar los proyectos de intercambios comerciales y económicos. 🇺🇸🤝🇸🇻 pic.twitter.com/NcmOjeadl6
El Salvador disclosed the new plan overthree months after it signed a memorandum of understanding on economiccooperation with Lugano, a city in Switzerland. Through the agreement, ElSalvador and Lugano are seeking to enhance their cooperation in education andresearch as well as promote the adoption of Bitcoin and other digital assets. Meanwhile, in 2022, Lugano accepted Bitcoin as legaltender in the region and encouraged local businessesto accept crypto payments in everyday transactions.
In May 2021, Texas passed a crypto bill that sought to establish a legal framework for Bitcoin investments in thestate. The bill was later signed into law by State Governor Greg Abbott.
— Greg Abbott (@GregAbbott_TX) June 5, 2021Blockchain is a booming industry that Texas needs to be involved in.
I just signed a law for Texas to create a master plan for expanding the blockchain industry in Texas.#Blockchain #Bitcoin#cryptocurrency pic.twitter.com/bMKXxxYooe
Other crypto-friendly states in the USinclude Colorado, Ohio, Wyoming and California. Some of these states havepassed one form of crypto regulation or another in the past few years.
El Salvador Continues with Bitcoin Dream
While El Salvador matches its dream of integrating Bitcoin into its national life, not all stakeholders have embraced the path thecountry is towing. In November 2021, Andrew Bailey, the Governor of the Bank ofEngland, expressed concerns about the country's use of Bitcoin as legal tender, citing the volatile nature ofthe digital currency.
At the start of that year, theInternational Monetary Fund also raised concerns aboutthe Central American country’s Bitcoin adoption, noting that the foremostdigital currency as legal tender poses risks.
El Salvador, the Central American countrythat emerged as the first nation to officially adopt Bitcoin as a legaltender in September 2021 has announced plans to open a ‘Bitcoin Embassy’ in the United States. The country wants to open the office in Texas,one of the United States’ most crypto-friendly states.
Milena Mayorga, El Salvador’s Ambassadorto the United States, announced the development on Tuesday through Twitter, noting that the country discussed “expanding commercial and economic projects”in its meeting with Joe Esparzam, the Assistant Secretary of the Government ofTexas.
— Milena Mayorga (@MilenaMayorga) February 14, 2023El estado de Texas, nuestro nuevo aliado.
En mi encuentro con el Secretario Adjunto del Gobierno de Texas, Joe Esparza @TXsecofstate, abordamos la apertura de la segunda Embajada #Bitcoin y de ampliar los proyectos de intercambios comerciales y económicos. 🇺🇸🤝🇸🇻 pic.twitter.com/NcmOjeadl6
El Salvador disclosed the new plan overthree months after it signed a memorandum of understanding on economiccooperation with Lugano, a city in Switzerland. Through the agreement, ElSalvador and Lugano are seeking to enhance their cooperation in education andresearch as well as promote the adoption of Bitcoin and other digital assets. Meanwhile, in 2022, Lugano accepted Bitcoin as legaltender in the region and encouraged local businessesto accept crypto payments in everyday transactions.
In May 2021, Texas passed a crypto bill that sought to establish a legal framework for Bitcoin investments in thestate. The bill was later signed into law by State Governor Greg Abbott.
— Greg Abbott (@GregAbbott_TX) June 5, 2021Blockchain is a booming industry that Texas needs to be involved in.
I just signed a law for Texas to create a master plan for expanding the blockchain industry in Texas.#Blockchain #Bitcoin#cryptocurrency pic.twitter.com/bMKXxxYooe
Other crypto-friendly states in the USinclude Colorado, Ohio, Wyoming and California. Some of these states havepassed one form of crypto regulation or another in the past few years.
El Salvador Continues with Bitcoin Dream
While El Salvador matches its dream of integrating Bitcoin into its national life, not all stakeholders have embraced the path thecountry is towing. In November 2021, Andrew Bailey, the Governor of the Bank ofEngland, expressed concerns about the country's use of Bitcoin as legal tender, citing the volatile nature ofthe digital currency.
At the start of that year, theInternational Monetary Fund also raised concerns aboutthe Central American country’s Bitcoin adoption, noting that the foremostdigital currency as legal tender poses risks.
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