The Legislative Assembly of El Salvador (AsambleaSV) approved on Wednesday a law for digital asset issuances, which includes the legal framework to issue the long-awaited bitcoin-backed bonds, otherwise known as Volcano Bonds. andresengler reports
in the Legislative Assembly at the end of November 2022, where Bukele's party, Nuevas Ideas, has a large majority. Sixty-two legislators voted for the law today, and 16 voted against.
released Wednesday, Bitfinex stated that it “will be an infrastructure provider for what it says should really be termed the"Volcano Token" –"a digital token which would help El Salvador to raise capital to pay down its sovereign debt, direct funds towards the creation of Bitcoin mining infrastructure, and fund the construction of 'Bitcoin City'."
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