As we reported a few days ago, the President of El Salvador, Nayib Bukele, announced during the Miami Conference that the country intends to accept bitcoin as a currency in the country. Now the 39-year-old has added to the appeal of his proposal on Sunday with his new remarks on Twitter. Bukele announced in his latest tweet that:
"The government will immediately grant permanent residency to crypto entrepreneurs."
Today, his proposal was approved by 62 official members of parliament against 19 votes against. Explaining the bill, Bukele added that the country is also proposing a new law to parliament that would allow anyone with a 3-bitcoin investment in the El Salvadorian economy to obtain permanent residency.
It is interesting to know that the official currency of El Salvador is the US dollar. About a quarter of El Salvadorians live in the United States, and last year they sent more than $ 6 billion in remittances despite the Corona epidemic.
Nayib Bukele acknowledged that the move was aimed at creating jobs and providing employment opportunities for thousands of people who now operate outside the country's legal economy. He noted that 70 percent of the population now does not have a bank account and operates in an informal economy.
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Yahoo NewsAnyone from El Salvador can give any feedback about living costs and living situation in this country?
Although I am not a resident of El Salvador, as a crypto user, I am very interested in this situation related to the adoption of BTC as the currency of El Salvador. If earlier in this old age the US dollar was the official currency, and now BTC, then this is probably a big blow to the US dollar. I would say that this is an example of other countries whose main currency is the US dollar. We may soon witness similar situations in other countries. As for the development of the economy within El Salvador and how much everything is as its president claims, I would also like to learn from the real inhabitants of this country. But no matter how it was, this is probably all directed against the US dollar, and BTC was probably developed as a tool to weaken the influence of the US dollar in the world.