Nayib Bukele will make it easier for crypto investors to obtain Salvadoran citizenship

The president believes that this move will strengthen the country’s economic situation

24.02.2022 - 07:15

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2 min

What’s new? El Salvador’s President Nayib Bukele has published a Twitter post in which he stated that he will make it easier for investors to obtain citizenship. Bukele will send 52 bills to Congress that will speed up bureaucratic procedures, create tax incentives and update securities regulations. This move will give potential savers “stability in exchange for investments,” the country’s president believes.

I’m sending 52 legal reforms to congress, to remove red tape, reduce bureaucracy, create tax incentives, citizenship in exchange for investments, new securities laws, stability contracts, etc.The plan is simple: as the world falls into tyranny, we’ll create a haven for freedom.— Nayib Bukele 🇸🇻 (@nayibbukele) February 20, 2022

How is El Salvador developing? Nayib Bukele claims that this move should strengthen the country’s economic situation. According to recent research, El Salvador’s adoption of bitcoin as a means of payment has had a positive impact on the tourism business. During December last year, the inflow of visitors from different countries increased by 30%.

The number of tourists from the United States has increased by 60%, despite recent criticism of El Salvadorэs president towards America’s senators. Bukele asked them not to interfere in the country’s internal affairs after they expressed concern over the adoption of bitcoin in El Salvador. The country has also issued bitcoin bonds, the profits from which will go towards developing mining.

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