El Salvador Approves Legislation Granting Expedited Citizenship for Bitcoin “Donations”
El Salvador’s Congress has reportedly accepted a brand new migration legislation that may grant expedited citizenship to foreigners who make Bitcoin (BTC) “donations.”
Bukele, who briefly stepped down as president to marketing campaign for the upcoming presidential election on February 4, 2024, spearheaded El Salvador’s Bitcoin revolution when he made the cryptocurrency authorized tender in September 2021.
Whereas the El Salvadoran authorities has not made an official announcement on the brand new legislation, its Nationwide Bitcoin Workplace (ONBTC) has introduced the brand new legislation, calling it the “world’s first citizenship by Bitcoin donation program.” The ONBTC is a particular administrative unit that manages all Bitcoin and cryptocurrency tasks all through the nation.
In line with the invoice, “Altruistic foreigners thinking about supporting the financial, social, and cultural growth of El Salvador … by donating bitcoin” could also be eligible for expedited citizenship.
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