Bank

2024

Dollars

Bitcoin

<ul class="news-points"> 
 <li><strong>El Salvador proposes a draft reform to the Banking Law to enhance economic growth.</strong></li> 
 <li><strong>The reform includes allowing private investment banks to operate using Bitcoin and other legal tenders.</strong></li> 
 <li><strong>El Salvador holds 5,781 BTC valued at over $376M with a $67.33M profit.</strong></li> 
</ul> 
<p>El Salvador, the first country to adopt Bitcoin as legal tender, is considering a draft law that could further integrate the cryptocurrency into its banking system. The <a href="https://diario.elmundo.sv/politica/diputados-reciben-propuesta-de-bancos-privados-de-inversion-en-que-consiste" target="_blank" rel="nofollow">proposed legislation</a> would allow for the creation of private investment banks that can operate with Bitcoin and other digital assets.</p> 
<p>Milena Mayorga, El Salvador’s ambassador to the United States, recently tweeted about this development on X (formerly Twitter).</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">As part of our economic plan for El Salvador, we propose a BPI, Bank for Private Investment, where we can diversify the financing options offered to potential investors in Dollars and <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a>. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/BitcoinBank?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#BitcoinBank</a><a href="https://twitter.com/hashtag/EconomicFreedom?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#EconomicFreedom</a> <a href="https://t.co/3hfwVvTSeX" target="_blank" rel="nofollow">https://t.co/3hfwVvTSeX</a></p>— Milena Mayorga (@MilenaMayorga) <a href="https://twitter.com/MilenaMayorga/status/1801647468695667198?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">June 14, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>One key provision of the reform bill is the creation of private investment banks that can operate with Bitcoin and other digital assets. These banks would be permitted to operate in any…</p>
<p>The post <a href="https://coinedition.com/bitcoin-banking-el-salvador-drafts-law-to-expand-crypto-adoption/">Bitcoin Banking: El Salvador Drafts Law to Expand Crypto Adoption</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Bitcoin Banking: El Salvador Drafts Law to Expand Crypto Adoption

Coin Edition

Other articles published on Jun 15, 2024

Altcoins That Could Experience Steady Growth Regardless of Inflation and Interest Rates Roller Co...

BlockDAG Edges Closer to $51M Milestone with Dev Release 49, Featuring Enhanced Blockchain Explorer

XRP Vs. SEC Lawsuit: SEC Says Ripple ODL Sales Reflects Past Violations

Robert Kiyosaki Emphasizes Consistent Bitcoin Investment

Ripple Labs argues for reduced SEC penalties by citing the Terraform Labs case

MoonBag coin Presale Soars and Outshines Cardano and Notcoin

Join our free newsletter for daily crypto updates!