"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.
Well, that’s quite good, because you will hardly see a news like this about Bitcoin, where the president and others are so keen to accepting Bitcoin. Most of the news you’re going to see are those of them that are banning bitcoin and news like that. You will hardly see any of them are embracing Bitcoin like this.
But that aside, I don’t think that El Salvador is a place I would like to live, despite that. Because based on what I have known, the place has a very high crime rate and countries with high crime rates are the least places I would like to be.