Drafting Bitcoin Bond Bill: El Salvador - Cryptocurrency Policy Research

El Salvador's chief financial officer, Alejandro Gelaya, said on Tuesday (January 4) that the Salvadoran government would submit to the government up to 20 bills related to economic, financial and investment security in order to provide a legal basis for the enactment of the Bitcoin contracts. Zelaya's famous Twitter influencer, 35, from Salvador - The CFO of El Salvador's Ibu Bukele (Naive Bukele), Zelaya is expected to be "Bitcoin" this time around, the leader ruled by law. In an interview, he said:"(This bill) not only provides a legal framework for anyone who purchases a Bitcoin contract, but also enforces the law."

Celaya said the government had already started drafting legislation after El Salvador announced it planned to announce bitcoin deals in November. According to El Salvador's November plan, the first Bitcoin bond to be issued this year is the "Volcanic Bond" plan offering $ 1 billion in bonds with a 6.5% coupon. Half of the proceeds will be used to create processes and the rest will be used to buy more bitcoin.

As the first country in the world to use cryptocurrency for profit, El Salvador announced the 'Bitcoin Bond Law' to ensure that the law that will lead the cycle of Bitcoin bond transactions has clearly identified new avenues. .Management correctly combined with decentralized cryptocurrency, The "Bitcoin Bond Act" is only one step in the enactment of Salvadoran cryptocurrency regulations.

Since Bitcoin is not registered, because there is no name, it will not complete the care, and it will not be a country, and there will be no good knowledge About. Salvador is the legal results of Bitcoin (Bitcoin), steady pouches ino at the intersection of Bitcoin policy. Indeed, in the details of unlimited grade policy, USA have been published at $ 3 trillion during the event of an exposure than 10% of funding. Also for small amounts such as salvador. Other countries do not need to encrypt the process call because of the country's major ability to control funds and to execute the currency of other important permission. And some local governments, the success of the countries of the country, in fact, the country that cannot be necessary in their country, the most countries in Africa, turned around. Some of the national wasted, and the people can do dollars to give them the national currency. And even the volume is like Turkey, it is a small country. 2021, all foreign changes, market market, and stock market experience. Especially, the products have information. Fuse for 4 days. In 2021, Turkey is 44%, almost covered. Salvador has decided to strike the dollar's dances in 2001, which was determined to adopt the US funds because of the income of the original. 90% of current tourism is the market for the market, Kronj is to abandon. In the present situation, Bitcoin cannot remove the influence of a large country, but at least it is only placed in a large country.

El Salvador's Bitcoin contract is provided by Blockstream, the Bitcoin infrastructure company that aided the Lightning Network, a second solution that makes Bitcoin trading faster and cheaper, expanding nationwide. . The Lightning Network enables users to deliver products quickly and affordably through payment. Unlike the Bitcoin-based layerThe Lightning Network allows nodes to track the exchange through an "off-chain" method called "whisper and find." Lightning network system can be suitable for microtransactions of modern people without having to access the Bitcoin main chain, it has the features of faster and lower cost compared to traditional Bitcoin exchange chain, the main special details are The following. Looks like. The parties commit part of the funds to several signatories, and the funds must be disbursed simultaneously by both parties. In Lightning Network, both parties' business processes are not recorded on the chain, only the end result, i.e. the exchange, is closed on the key chain. This is equivalent to the need for a single queue. Significant reduction in chain accounting procedures and cost procedures.If this plan is adopted, the national digital currency process as important as Bitcoin can be developed, which is not the same as Bitcoin.

The "Bitcoin Bond Act" model is only one step in the search for Salvadoran cryptocurrency law, and after legalization and publication, even technology can control the cut. Punishing the Bitcoin bond market is always an important experience.