The Legislative Assembly of El Salvador has passed a new migration law that would grant citizenship at an accelerated rate to foreigners who donate Bitcoin to government programs aimed at social and economic development.
The decision was made on Dec. 21, with the support of President Nayib Bukele’s political party, New Ideas, as reported by Reuters. It is expected to take effect in the near future.
Bukele, who briefly stepped down as president to focus on his campaign for the upcoming presidential election in February 2024, was the driving force behind El Salvador’s adoption of Bitcoin as legal tender in September 2021.
While the government has yet to make an official announcement about the new law, several reports on social media have been shared by the National Bitcoin Office (ONBTC), a special administrative unit responsible for overseeing all Bitcoin and cryptocurrency projects in the country.
