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Learning & News => News related to Crypto => Topic started by: sirty143 on December 25, 2023, 02:57:20 PM

Title: Latam Insights: El Salvador Passes Bitcoin Citizenship Law, Argentina to Allow C
Post by: sirty143 on December 25, 2023, 02:57:20 PM
Latam Insights: El Salvador Passes Bitcoin Citizenship Law, Argentina to Allow Crypto Denominated Contracts

(https://i.imgur.com/Eg2QQaTm.jpg)

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador passes a Bitcoin donation citizenship law... See more for yourself here (https://news.bitcoin.com/latam-insights-el-salvador-passes-bitcoin-citizenship-law-argentina-to-allow-crypto-denominated-contracts/).

Your opinion is greatly appreciated.
Title: Re: Latam Insights: El Salvador Passes Bitcoin Citizenship Law, Argentina to Allow C
Post by: DabsPoorVersion on December 25, 2023, 03:17:22 PM
Quote
On December 8, the country announced a program called “Adopting El Salvador,” which would allow foreign Bitcoin millionaires to fast-track their access to a Salvadoran Passport by investing $1 million USDT. However, the program will be available only for 1,000 applicants each year.

At first, I thought that the crypto millionaire just needed to have their own investment of $1 Million or more that needed to be shown as proof that they are real Bitcoin millionaires to be eligible as one of those 1000 people to be approved and become an official citizen of El Salvador.

However, upon looking for more information, I saw this. To achieve being a citizen and owning the Freedom Visa, a donation to the government is required.
Quote
The development comes about two weeks after El Salvador launched a Bitcoin Freedom Visa for foreigners willing to invest $1 million in BTC or Tether USDT into the Central American country. (https://cointelegraph.com/news/el-salvador-passes-law-offering-citizenship-bitcoin-investors)
This offer is particularly attractive for crypto millionaires residing in countries that have restrictions on Bitcoin or those who wish to use Bitcoin without any limitations on time and location.
Title: Re: Latam Insights: El Salvador Passes Bitcoin Citizenship Law, Argentina to Allow C
Post by: Tribalchief on December 26, 2023, 12:16:27 AM
El Salvador never stops to surprise us when it comes to advancing their nation with Bitcoin. Putting their citizenship on the line shows that they are on a different level. Not sure what the consequences might be, but I think they are not stopping any time soon. $1000usdt might be too small for a 5year waiting process. I hope those with negative agenda don't take advantage.

As for Argentina, I think this is my first time of coming across a good crypto news from their direction. The new administration should have crypto at heart.
Title: Re: Latam Insights: El Salvador Passes Bitcoin Citizenship Law, Argentina to Allow C
Post by: bitmover on December 26, 2023, 01:51:05 PM
Quote from: Tribalchief on December 26, 2023, 12:16:27 AM
As for Argentina, I think this is my first time of coming across a good crypto news from their direction. The new administration should have crypto at heart.

I think the main point in argentina is that their fiat currency is completely broke up. Citizens are looking for ANY alternative, and cryptocurrencies are amazing because they are easy to buy , transact, sell, etc...

Milei will now even allow contracts to be firmed using bitcoin!

https://beincrypto.com/argentina-paves-way-for-bitcoin-contracts/