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El Salvador Passes Law to Offer Citizenship to Foreign Bitcoin Investors

El Salvador‘s Congress has passed a new law enabling foreign citizens to obtain citizenship by investing in Bitcoin, according to Reuters. On Dec. 21, the Salvadoran unicameral legislature, dominated by President Nayib Bukele‘s New Ideas party, voted in favor of the new citizenship law. Conducted during a late-night session, the vote garnered significant support, paving the way for the swift enactment of the policy. The newly approved law grants expedited citizenship to foreign investors who make Bitcoin “donations” towards El Salvador’s social and economic development programs. This approach is part of a broader strategy to attract foreign investment and bolster the nation’s economy.

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