After the opening of the Bitcoin embassy in Lugano Switzerland El Salvador Continues to Expand BTC Strategy with New Partnership with Texas
Bitcoin, the largest digital currency in the world
BTC
tick down
$27,957
Connecting Multiple Countries as El Salvador Government Opens “Bitcoin Embassy” in USA
El Salvador, the country to legalize Bitcoin in 2021, is expanding its Bitcoin strategy through a new partnership with the Texas government. The goal of the intergovernmental collaboration is to set up a Bitcoin embassy or representative in El Salvador in Texas to work on a new joint project to promote Bitcoin adoption.
Milena Mayorga, El Salvador’s Ambassador to the United States, announced the news on Twitter on February 14.
“At my meeting with Texas Deputy Secretary of State Joe Esparza, we discussed opening a second bitcoin embassy and expanding the trade and economic exchange program,” Mayorga said.
The latest Bitcoin initiative comes a few months after El Salvador opened its first Bitcoin embassy in Lugano. southern switzerland As of October 2022, part of this effort Both crypto-promoting jurisdictions have begun forming real governments to facilitate cooperation with Bitcoin-related educational and research institutions.
Former Blockstream Chief Strategy Officer Samson Mow says the Bitcoin Embassy phenomenon is the next step in bringing Bitcoin to countries and cities. He said the initiative involves international cooperation to develop new initiatives, such as alliances between places that use Bitcoin.
RELATED: El Salvador’s ‘Limited’ Use of Bitcoin Hedges Predicted Risk, Says IMF
The news comes amid Texas lawmakers considering a new bill calling for a “serious ban.” Billed as a “master plan to expand the blockchain industry,” the legislative initiative aims to make Texas the nation’s crypto capital by introducing tax-free purchases with Bitcoin, among other things.
as previously reported The state of Texas has become one of the crypto-friendly states in the United States. and has adopted crypto-friendly laws. It aims to bring trade laws more in line with blockchain innovation and digital asset regulations. Texas is also home to some of the largest bitcoin mining companies in North America. Major mining companies such as Riot Blockchain, Core Scientific and Genesis Digital Assets operate in the state.
