The Legislative Assembly of El Salvador has reportedly approved a migration law granting expedited citizenship to foreigners who make Bitcoin (BTC) donations toward government social and economic development programs.
The reform was passed by the country’s legislature on Dec. 21 with support from the Nayib Bukele’s New Ideas party, according to a Reuters report.
The law is expected to come into force in the coming days.
Bukele temporarily stepped down as the country’s leader to campaign for the upcoming presidential election on Feb. 4, 2024. He spearheaded El Salvador’s Bitcoin revolution when he made the cryptocurrency legal tender in September 2021.
The Salvadoran government hasn’t officially announced the new law, but its National Bitcoin Office (ONBTC) has reposted several X (formerly Twitter) posts reporting the news. The ONBTC is a special administrative unit that manages all Bitcoin and cryptocurrency projects nationwide.
Cointelegraph contacted El Salvador’s National Bitcoin Office for comment but did not receive an immediate response.
The bill was labeled a “vital interest” of Bukele’s, according to Reuters, with many Bitcoin-related projects currently being developed by Bitcoiners from foreign countries.
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“Altruistic foreigners interested in supporting the economic, social and cultural development of El Salvador [...] by donating bitcoin,” the bill reportedly states.
Reuters said the law doesn’t cite a minimum donation requirement.
The development comes about two weeks after El Salvador launched a Bitcoin Freedom Visa for foreigners willing to invest $1 million in BTC or Tether (USDT) into the Central American country.
This is a developing story, and further information will be added as it becomes available.
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