- El Salvador’s Miss Universe representative Alejandra Guajardo was seen showcasing Bitcoin at the pageant.
- The country approved a bill that regulates the issuance of digital assets by both the state and private entities.
- The bill is not applicable to CBDCs, fiat currencies, bitcoins, NFTs, and the video game ecosystem.
At the Miss Universe event in New Orleans, El Salvador’s representative Alejandra Guajardo was seen wearing outfits showcasing different currencies throughout the country’s history — including Bitcoin.
In related news, El Salvador approved a law that intends to regulate the issuance of digital assets by both state and private entities, on Wednesday. Notably, El Salvador is the first country to recognize Bitcoin as a legal tender, requiring all business entities to accept the cryptocurrency.
Currently, the ruling party issued the bill, in collaboration with the President of El Salvador, Nayib Bukele, as an approach to attract national and foreign investors. The law also intends to create new financing opportunities for individuals, institutions, and the government.
As per the legislation, the purpose of the law is “to establish the legal framework that grants legal certainty to transfer operations to any title of digital assets used in public issuance offers.”
In addition, the legislation stated that the bill aims at creating “the statutory framework that allows legal certainty to transfer operations to any title of digital assets utilized in public issuance offerings”.
Significantly, the National Commission for Digital Assets and the Bitcoin Proceeds Administration Agency would be designated to administer, protect, and invest funds from the government’s public offers of digital assets. It is to be noted that the provisions of the law wouldn’t be applicable to the Central Bank Digital Currency (CBDCs) or the fiat currencies.
Though questions were raised regarding the connection of the bill to the launch of Bitcoin volcano bonds, the President was reluctant to comment.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
