El Salvador has passed a new migration law that offers expedited citizenship to foreigners who donate Bitcoin to government social and economic development programs. The law, which has been endorsed by the country's president Nayib Bukele, does not specify a minimum donation amount. El Salvador has also recently introduced a Bitcoin Freedom Visa, which allows foreigners to obtain a visa by investing $1 million in BTC or Tether. The country is reportedly working on launching its own Bitcoin ETFs.

Salvadoran National Bitcoin Office (ONBTC) stated that since its launch on December 7th, its $1 million free visa program has received hundreds of inquiries and is expected to be sold out by the end of this year. The office has received hundreds of inquiries and "dozens of applications", including online and in-person applications submitted to its embassies and consulates.

Tether advisor Gabor Gurbacs posted on X platform stating: In my opinion, people have overestimated the initial impact of the US spot Bitcoin ETF, and I think it may create hundreds of millions of dollars in capital flows (most of which are recycled). At the same time, people underestimate the news impact of El Salvador, where a national country creates a Bitcoin visa program, which is a new blueprint for many countries to follow. El Salvador's free visa, Lugano municipal tax payment, bond issuance coupon payment, etc. can all be paid with USDT. This is the correct example of institutional adoption of stablecoins, and Tether is leading the way, not just in terms of market share.