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World’s First Bitcoin Bonds Receive Regulatory Approval in El Salvador

El Salvador’s long-planned Bitcoin bonds have inched closer to reality after apparently receiving regulatory approval for an early 2024 issuance, the country’s Bitcoin-focused office posted on Tuesday. The bonds are set to be offered on Bitfinex Securities, a regulated division of crypto exchange Bitfinex. The so-called “Volcano bonds” were announced in 2021 by President Nayib Bukele shortly after he passed a law recognizing bitcoin (BTC) as legal tender in the country. Bukele’s target was to raise $1 billion via the bitcoin-backed bonds – seeding a bitcoin mining industry reliant solely on renewable energy, including that generated by the country's active volcanos.

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