CFO: El Salvador will also announce a Bitcoin contract.

As El Salvador moves closer to announcing the bitcoin deal, El Salvador's CFO today said the government will send around 20 bills to parliament to kick start the process.

El Salvador's CFO Alejandro Gelaya told local media on Tuesday that the bill would provide everyone with the latest legal and legal standards for those who buy Bitcoin bonds.

The idea is to put $ 1 billion in the contract this year. Half will be converted to Bitcoin and the other half will be used for Bitcoin infrastructure and mining. The government hopes the announcement will help build a Bitcoin town for Bitcoin supporters in the east, using electricity generated from nearby sources. for

"We are the first country to declare a Bitcoin deal, and we need regulation because we are the first country to declare it," Zelaya said, adding that the government was developing an "appropriate" one. for

El Salvador became the first country in the world to legalize Bitcoin last year. If the business has access to the technology, it should get it now. The move was hailed by the Bitcoin community, but has been criticized by the World Bank, International Bank, Monetary Fund, and international regulators.