A new bill has been introduced to legalize all cryptocurrencies in El Salvador.
When President Nayib Bukele introduced the Bitcoin law in June 2021, it was approved by the National Assembly within hours. In addition, Bitcoin (BTC) was made legal tender in the country in September of that year. A new step is being taken with the aim of legalizing all cryptocurrencies.
El Salvador Takes Steps for All Cryptocurrencies
El Salvador’s Minister of Economy, Maria Luisa Hayem Brevé, has introduced a Digital Asset Issuance bill.
The bill was presented to the legislature for consideration by Congress. Additionally, crypto lawyer Ana Ojeda Caracas revealed the details on Nov. The bill, submitted by economy minister Breve, includes clauses that enable it to facilitate the full legalization of cryptocurrencies.
If the crypto law is passed, transfers of any type of crypto asset will be regulated, not just the currently legal Bitcoin. The bill aims to promote the efficient development of the digital asset market and protect the interests of buyers. It also sets crypto apart from other financial assets, creating a completely new framework for them.
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