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El Salvador May Launch A $150M Bitcoin Trust To Facilitate BTC And U.S. Dollar Transactions
Summary: According to a local newspaper El Diario de Hoy, the El Salvadoran government agreed on Monday to establish a $150 million Bitcoin trust fund to promote the exchange of Bitcoin and U.S. dollars in the country. El Salvador's Minister of Economy, María Luisa Hayém Brevé, stated that representatives of the Finance Committee of the Legislative ...
According to a local newspaper El Diario de Hoy, the El Salvadoran government agreed on Monday to establish a $150 million Bitcoin trust fund to promote the exchange of Bitcoin and U.S. dollars in the country.
El Salvador's Minister of Economy, María Luisa Hayém Brevé, stated that representatives of the Finance Committee of the Legislative Assembly approved the trust fund on Monday. The fund's budget was initially $150 million and is likely to increase.
The trust will be set up in the El Salvador Development Bank to allow merchants to instantly convert BTC into U.S. dollars.
By Mary Liu
Tags: Bitcoin,Bitcoin Trust,El Salvador
Link: El Salvador May Launch A $150M Bitcoin Trust To Facilitate BTC And U.S. Dollar Transactions [Copy]
