El Salvador removes all taxes related to tech innovation for economic growth
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El Salvador, the first country to establish Bitcoin (
In the start of 2023, El Salvador passed a legislation providing the legal framework for a Bitcoin-backed bond — known as the Volcano Bond.
#Plenaria90? Con 62 votos a favor, creamos la Ley de Emisión de Activos Digitales. pic.twitter.com/g1poXwLoH3
— Asamblea Legislativa (@AsambleaSV) January 11, 2023
The nomenclature of the volcano bonds is derived from Bitcoin City’s location, which is set to become a renewable crypto-mining hub powered by hydrothermal energy from the nearby Conchagua volcano.
