Bukele to offer citizenship to those who invest in El Salvador
At a time when the world is turning into "Tyranny," the president committed to making El Salvador one of the most freedom-focused countries. On Sunday, President Bukele announced to the crypto community via Twitter that he was forwarding a list of 52 law reforms to Congress. Among the listed proposals, including removing red tape, lowering bureaucracy, introducing tax incentives, Bukele suggested offering citizenship to foreigners who invest in the country.Bukele has risen to prominence as a proponent of Bitcoin (BTC) adoption, but he is also a controversial character in global politics for the same reasons. As we reported, a bipartisan group of US senators has proposed new rules aimed at mitigating the risks posed by El Salvador's Bitcoin adoption as legal tender.
President Bukele comically criticized the new legislation by referring to US senators as "boomers" and reminding them that they have no control over a sovereign and independent country and should not enter in the country's "internal matters."
The growth and criticism
In September of last year, El Salvador made history by becoming the first country in the world to make Bitcoin legal tender alongside the US dollar. While most international agencies, such as the World Bank and the International Monetary Fund, continued to voice warnings about the negative consequences of utilizing BTC as legal cash, the country apparently had its biggest GDP growth in history.El Salvador is preparing to issue its billion-dollar Bitcoin Volcanic Bonds in March of next year. The bonds' earnings would be used to construct the world's first much-talked Bitcoin city.
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