THELOGICALINDIAN - For El Salvadors Bitcoin Law to action as planned a Bitcoin assurance armamentarium is acute The countrys government will handle the barter amid dollars and bitcoins Theyll accept the animation and agreement prices And now beneath than a anniversary afore the law goes into aftereffect the Finance Commission of the Legislative Assembly accepted the conception of a 150M Bitcoin assurance Just in time
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Salvadoran bi-weekly El Diario de Hoy quoted María Luisa Hayém Brevé, the Minister of Economy:
About the Bitcoin assurance armamentarium itself, a brace of months ago back President Bukele explained the Bitcoin Law to us, Bitcoinist told you:
Where Does The Money For The Bitcoin Trust Fund Come From?
The Central American Bank for Economic Integration (CABEI) gave El Salvador a $500M loan. From those funds:
In contempo a address about the Central American Bank for Economic Integration’s akin of involvement in the accomplishing of the Bitcoin Law, Bitcoinist commented:
How Will El Salvador’s Government Guarantee No-Fee Transactions?
Last week, application a tweetstorm, President Bukele antiseptic some of the abounding doubts that this groundbreaking activity creates. Among added things, Bukele claimed:
Related Reading | President Bukele Clears Up Misconceptions About The Government’s Chivo Wallet
How will they do it? They’ll use the afresh accustomed $150M Bitcoin assurance fund, that’s how. The government will accept Bitcoin volatility’s risk, but it will additionally acquire the rewards that said accident entails. While the action worries about President Bukele’s adeptness to agreement dollar liquidity, they absence the bigger picture. El Salvador’s government now holds bitcoin in its antithesis sheet. They accept acknowledgment to the hardest money anytime created.
Less than a anniversary to go afore the Bitcoin Law goes live. Grab your seats.
