El Salvador’s Legislature Approval of the law on the issuance of digital assets To pave the way for “bitcoin bonds” backed by President Nayib Bukele.
The new law imposes a directive that provides legal certainty for the transfer of operations of any type of digital asset. Used in public offerings in El Salvador. It also had to create new government agencies. To manage El Salvador’s digital assets, bitcoin bonds are set to begin operating at least in early 2022.
Opponents accuse the regulation of conducive to money laundering, tax evasion and the creation of more debt, according to Reuters. ElSalvador.com
Meanwhile, digital asset providers in El Salvador will be required to complete registration and comply with several rules under the proposed law. These agencies will be required to list the digital assets they plan to offer, including their “usefulness, limitations, and limitations,” and they will also be required to list cybersecurity precautions and capabilities. in customer service as well as identifying the names and positions of company employees
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