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El Salvador’s Minister of Economy, Maria Luisa Hayem Brevé, has submitted a digital asset issuance bill to the country’s legislature, paving the way for the launch of its backed volcano bonds to bitcoins.

First announced a year ago today, the pioneering initiative aims to attract capital and investors to El Salvador. It was revealed at the time that plans to issue $1 billion in bonds on the Liquid Network, a federated bitcoin sidechain, with bond proceedings split between a $500 million direct allocation to bitcoin and an investment of the same amount in construction. energy and bitcoin mining infrastructure in the region.

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