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The El Salvadorian Legislative Assembly approved a law regarding the issue of cryptocurrency, which will pave an avenue for Bitcoin bonds pushed by President Nayib's buckle.
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The new law creates a legal order that provides legal certainty for transfers that involve any digital asset that is used to make public offerings within El Salvador.
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The plan also establishes a new government agency that will manage the digital assets of El Salvador.
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Bitcoin bonds are in development from at least the beginning of 2022.
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Bitcoin is already legal in the country.
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The opposition claimed that the rules encourage the laundering of money and tax evasion.
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They also encourage more outstanding debt, according to El Salvador.
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Service providers of digital assets that operate in El Salvador would have to be registered and comply with various rules under the proposed law.