El Salvador Eliminates All Taxes on Technology Innovations, AI, App Programming
El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing.
President Bukele Eliminates All Taxes on Tech Innovations
El Salvador's President, Nayib Bukele, has announced the elimination of all taxes on technology and innovation in the country. The announcement comes as part of a broader push to position El Salvador as a hub for innovation and technology in Central America.
Bitcoin Crowdfunding Is Lightning: El Salvador School Program Hits 1 BTC in Donations
The "My First Bitcoin" program, a nonprofit initiative in El Salvador, has raised over 1 BTC in donations from Bitcoin education advocates worldwide through a crowdfunding campaign. The donations were sent over the Lightning Network, a layer-2 solution that costs a fraction of legacy payment services. The crowdfunding campaign was boosted by Bitcoin Beach, a circular community in El Salvador that declared it would match all donations to the project until April 27. The Bitcoin community's support for My First Bitcoin's educational efforts in El Salvador demonstrates the potential of Bitcoin to empower individuals and level the playing field.
El Salvador Denies Claims That Bitcoin City Project Has Been Shelved
An organization linked to the El Salvadoran government has refuted claims that the country's plans to build a Bitcoin City have been scrapped. Critics point to the fact that original proposals stated that work on the project would begin in 2022. Several BTC-related projects have been scaled back or put on hold during crypto winter, including the issuance of BTC bonds.
Miss Universe El Salvador 2022 Encourages Women to Embrace the Bitcoin World After Launching Ordinals Collection
Mexican-Salvadoran beauty queen and ballet dancer Alejandra Guajardo, who was crowned Miss Universe El Salvador 2022, has actively promoted Bitcoin adoption on social media. She encouraged others to share their knowledge of Bitcoin with women, highlighting its potential for financial freedom and empowerment.
Bitcoin transfers to El Salvador drop in 2023
In 2021, El Salvador took the adoption of Bitcoin (BTC) to a higher level by introducing it as a legal tender and thus equating it with the US dollar. Meanwhile, more than a year and a half later, the country has invested many millions in bitcoin for the treasury. Remittances, i.e. money sent by migrants to relatives in the country of origin, in bitcoin or other cryptocurrencies, would have fallen by 17.8% during the first two months of this year relative to 2022.
Crypto Remittances to El Salvador Down 18% in Early 2023
Remittances in Bitcoin and other cryptocurrencies sent to El Salvador fell 17.8% during the first two months of 2023 compared to 2022, according to recent data published by the country’s Central Reserve Bank (BCR) reported by Agencia EFE.
Bitcoin Is Rallying But El Salvador’s Holdings Are Still Down 29%
Bitcoin may be at a nine-month high, but El Salvador’s total holdings are still worth 29% less than what the government paid for the world’s largest digital currency.
Bitfinex Securities El Salvador Becomes First Licensed International Digital Asset Platform Under New Salvadoran Law
The exchange will enable the issuance and trading of innovative tokenized assets such as equities and bonds.
Bitfinex Securities El Salvador Receives Digital Asset Service Provider License in El Salvador
Digital asset exchange “Bitfinex Securities El Salvador” has received a digital asset service provider license under El Salvador's new Digital Assets Issuance Law, which was passed by El Salvador's National Congress in January 2023, with the goal of fostering increased financial innovation and growth in the Central American country.
