El Salvador Congress green lights citizenship for investments in BTC
The El Salvadoran Congress has approved a law to speed up the citizenship acquisition for those who make donations in Bitcoin (BTC). El Salvador’s Congress, with backing from President Nayib Bukele’s New Ideas party, has passed a migration law that offers fast-tracked citizenship to foreigners who contribute to government social and economic programs through Bitcoin donations. This unexpected decision, made in a late-night vote by the unicameral legislature on Dec. 21, is expected to come into enforcement in the coming days, per a Reuters report. However, the law does not contain any minimum requirements for a donation. The reform stipulates that those who qualify will skip the standard need for the naturalization process of five years of continuous residence for anyone from a non-Hispanic country or two years if the person has a Salvadoran spouse. You might also like: Few people sent money to El Salvador using Bitcoin and Crypto in H1 2023 At the same time, ...