El Salvador is preparing to open the National Bitcoin Office (ONBTC), which will oversee all initiatives involving Bitcoin.
The institution will serve as a special administrative division within the Presidency of the country.
El Salvador Doesn’t Slow Down Its Bitcoin Policy
The opening of the office was approved by the President of El Salvador, Nayib Bukele, by Decree No. 49. The decision was published in the Official Gazette on 17 November.
The agency’s duties include transferring information to “the media and any interested person” regarding Bitcoin, blockchain and cryptocurrencies in El Salvador.
ONBTC will assist Bitcoin and blockchain investors who want to visit and do business in the country and encourage the country to take part in international forums.
ONBTC will hold meetings to introduce Bitcoin and blockchain technology to the country.
President Bukele will also appoint a Bitcoin Office director to carry out the duties of the institution.
El Salvador became the first country to do so by legally accepting Bitcoin. Bukele recently announced that the country will start buying one BTC per day.
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