El Salvador faced a tough year after making Bitcoin legal tender in the country. But the country’s Legislative Assembly voted to pass a historic – Digital Asset Issuance legislation – that is expected to set the stage for the issuing of President Nayib Bukele’s bitcoin bonds, aka, the Volcano Bonds.

The new law will focus on setting up a legal framework around the issuance of digital assets and the wider crypto classification, which includes every other type of digital asset in the market besides Bitcoin. This means that there is now a definitive regulatory framework for tokenized securities, altcoins, and businesses that wish to transact or offer services focused on digital assets other than Bitcoin.

(By Chayanika Deka)