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Bitcoin-Backed 'Volcano Bonds' Will Hit the Market Soon, El Salvador Declares | CoinMarketCap

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cryptonews: El Salvador 🇸🇻 has passed a new law that will pave the way for long-awaited 'Volcano Bonds' to hit the market. 🚀

The idea is to raise $1 billion, with half of the sum invested into Bitcoin and the other half spent on infrastructure.

In El Salvador's legislative assembly, 62 politicians voted in favor of the new legislation, while 16 were against. It's also hoped that the arrival of the digital securities law will deliver "unprecedented consumer protection from bad actors in the 'crypto' space while also firmly establishing that we are open for business to all those who wish to build the future with us on Bitcoin."

Last year, there had been fears that demand for Volcano Bonds had dried up altogether, potentially leaving the project dead in the water.

 

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