Among the functions of the entity are to conceptualize and provide information related to Bitcoin, Blockchain and cryptocurrencies in El Salvador, "to the media and any interested person".

The El Salvador government has proposed the issuance of blockchain bonds, with a minimum investment of $100. According to the bill, the nation’s goal is to raise $1 billion via those products and stimulate the advancement of numerous crypto projects.

The government of El Salvador presented a bill that could set comprehensive rules on the local crypto sector and regulate the operations of all digital asset providers in the country. The ruling body is also one step closer to issuing blockchain bonds that could aid the development of certain BTC endeavors in the Central American nation.

Amid the crypto market downturn, El Salvador finally makes a decisive step to the realization of its ambitious “Bitcoin bonds” project. The Minister of the Economy Maria Luisa Hayem Brevé introduced  a bill confirming the government’s plan to raise $1 billion and invest them into the construction of a “Bitcoin city.”

Ethereum creator Vitalik Buterin has again criticized the <a href="https://decrypt.co/resources/what-is-bitcoin-four-minute-instant-guide-explainer" target="_blank">Bitcoin</a> community's enthusiasm for El Salvador and its president Nayib Bukele, saying that many Bitcoin advocates have ignored the fact that Bukele’s government is "not very democratic."

While no one knows if El Salvador can hang on to its Bitcoin for five years through at least one inevitable recession, you have to agree it’s a bold move that could pay off.

The president of El Salvador, Nayib Bukele announced that El Salvador would start purchasing one bitcoin every day from Nov. 17. The announcement comes roughly three and a half months after the nation scooped up its last bitcoin in July 2022, buying 80 BTC at $19,000 per coin. El Salvador became the first country in the world to <a href="https://zycrypto.com/bitcoin-officially-becomes-legal-tender-in-el-salvador-country-secures-first-400-btc-purchase/">recognize bitcoin</a> as a legal tender in September 2021.&nbsp;