This week saw the meeting of El Salvador's ambassador with Miami's mayor, focusing on potential cooperation in investment and policies regarding Bitcoin.
Discussion with Miami's Mayor
This week, El Salvador's ambassador, Milena Mayorga, met with Miami Mayor Francis Suárez to discuss the Bitcoin policy and the model promoted by President Nayib Bukele. Suárez noted that El Salvador's international positioning is linked to its Bitcoin strategy and security plan.
Changes in Bitcoin Legislation
El Salvador adopted Bitcoin as legal tender in 2021; however, after negotiations with the IMF, its mandatory acceptance was changed to a voluntary choice for merchants. The government claims a national Bitcoin reserve of over $600 million and asserts that it purchases one Bitcoin daily.
Prospects for Cooperation
Miami is exploring business incentives such as tax exemptions to attract technology firms. Despite no confirmed details on Suárez's visit and Bitcoin programs, both parties express interest in potential cooperation.
While a formal agreement on Bitcoin programs is still pending, both sides remain open to new opportunities and collaborations, with Bitcoin being a pivotal element.
