• El Salvador is considering opening a second bitcoin embassy in Texas to boost economic exchange.
• Milena Mayorga, the Salvadoran ambassador to the US, discussed this with Texas Secretary of State Joe Esparza.
• The IMF noted that El Salvador had managed to avoid cryptocurrency-related risks due to slow and tepid adoption of Bitcoin.
El Salvador Considers Opening Second Bitcoin Embassy
El Salvador is considering opening a second bitcoin embassy in Texas to boost economic exchange and foster their growing relationship with the state. Milena Mayorga, the Salvadoran ambassador to the United States, recently discussed this possibility with Texas Secretary of State Joe Esparza.
Digital Assets Issuance Law
The proposal follows El Salvador’s approval of the Digital Assets Issuance Law in January 2023 and a recent mission statement on El Salvador’s economy by the International Monetary Fund (IMF). The IMF noted that El Salvador had managed to avoid cryptocurrency-related risks due to its slow and tepid adoption of bitcoin.
Comments by President Nayib Bukele
This development also follows comments by President Nayib Bukele regarding disinformation in national and international media. El Salvador’s finance minister Alejandro Zelaya took to Twitter to refute claims made by some media outlets, tweeting: “El Salvador has met its debt obligations. We announce that on this day we have completed the payment of the 2023 Bond for $800 million, plus interest”.
Exchange Projects Between El Salvadore and Texas
Ambassador Milena Mayorga stated that government officials were considering opening a second bitcoin embassy in Texas and had already taken place with authorities from Lugano, Switzerland about similar projects. She said that discussions with the deputy secretary of Government of Texas revealed plans for expanding commercial and economic exchange between both countries – having exchanged $1,244,636,983 in 2022 alone.
Conclusion
In conclusion, following developments such as El Savador’s approval of Digital Assets Issuance Lawand comments from President Nayib Bukeleabout disinformation in media; it appears that there are efforts being made topromote economic exchange between both nations through initiatives such asopening a second bitcoin embassyinTexas; furtheringrelations betweenEl SalvadoreandTexas even moreso than before.