El Salvador will grant permanent residency to 3 bitcoin providers

2021-10-27 06:53:25

The president of El Salvador said that El Salvador will grant permanent residency to immigrants who publish 3 bitcoins (about $102,000). He also said that the Salvadoran government will launch a bitcoin wallet for citizens, but citizens can choose whether to use it or not. In addition, El Salvador will operate a trust fund that will hold about $150 million worth of bitcoin to offset the volatility of the bitcoin market and ensure that merchants do not have to take on risk. However, despite El Salvador's push for cryptocurrencies, Bukele does not intend to de-dollarize. (Sina Finance)

Permanent residency El Salvador

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