Regulators Greenlight El Salvador’s ‘Volcano Bond,’ Anticipated Launch Set for Early Next Year
El Salvador’s groundbreaking “Volcano Bonds,” linked to Bitcoin (BTC), have secured regulatory approval and are scheduled to debut in the first quarter of the upcoming year.
The National Bitcoin Office (ONBTC) revealed that the Digital Assets Commission (CNAD) granted approval after nearly two years of delays. Initially announced by pro-crypto President Nayib Bukele in November 2021, these bonds. A world-first, were initially slated for an early 2022 launch, but Bukele postponed them indefinitely due to BTC price fluctuations. The Bitcoin bonds will be traded on Bitfinex Securities, according to ONBTC.
In another Bitcoin-related development, El Salvador recently introduced the “Freedom Visa Program,” catering to high-net-worth individuals willing to invest $1 million in BTC or USDT for a passport. Bukele, a vocal Bitcoin advocate, affirmed that El Salvador. With over $130 million in BTC holdings, has no plans to sell despite the cryptocurrency’s price fluctuations. Emphasizing a steadfast long-term strategy.
Clever Robot News Desk 14th December 2023
