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Crypto to the Globe: El Salvador to Launch U.S. Bitcoin Embassy

El Salvador, the first government to recognize Bitcoin (BTC) as its legal cash, is reportedly interested in establishing a Bitcoin embassy in Texas in the United States of America. Milena Mayorga, the nation’s ambassador to the United States, tweeted this on Wednesday.

El Salvador’s second Bitcoin Embassy

According to Milena Mayorga, this is the second Embassy of Bitcoin and the extension of commercial and economic exchange initiatives that El Salvador has taken after accomplishing the same thing the previous year in Lugano in Switzerland in October.

Through its participation in activities of this nature, the nation in Central America is making a contribution to the ecosystem of cryptocurrencies. As a result of this, it will be possible to facilitate the dissemination of news pertaining to cryptocurrencies, and Bitcoin will be accepted on an increased number of sites all over the world.

The request that the Salvadoran ambassador made follows on the heels of El Salvador’s passage of the Digital Assets Issuance Law in January of this year, as well as a comment made by the International Monetary Fund (IMF) on the state of the Salvadoran economy. Because the government of El Salvador has delayed implementing digital money throughout the nation, the country has managed to avoid the risks associated with Bitcoin, as stated in a statement issued by the IMF.

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Salvador owns 2,381 Bitcoin

There are currently 2,381 Bitcoin in El Salvador, per Bitcoin Treasuries data. As a result, the nation is now just behind the United States and Ukraine in the ranking.

In a series of tweets, El Salvador’s Ambassador to the United States, Mayorga, thanked Texas’ Secretary of State, Joe Esparza. El Salvador and Texas have a solid economic link, as shown by the 1 244,636,983 dollars worth of goods and services exchanged between the two nations in 2022.

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Curtis Dye

Curtis is a cryptocurrency news and analytics author with a focus on DeFi, BLockchain, CeFi, NFTs etc. He has publication skills such as SEO optimization, Wordpress, Surfer tools and aids his viewers with insights on the volatile crypto industry.

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