11-22-2021, 07:16 PM
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Planar Protector
Join Date: Aug 2021
Posts: 1,359
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Fate is not written: El Salvador plans ‘bitcoin city’ powered by volcano
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El Salvador’s president has said the Central American country plans to build a volcano-powered “bitcoin city” financed partly by an issue of $1bn in sovereign bonds backed by the cryptocurrency.
President Nayib Bukele said the city would have no property, income or capital gains taxes. Its infrastructure and other costs will be funded by a sales tax and money raised by the bond issues.
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The extremely popular Bukele — a former mayor of the capital San Salvador — has enjoyed approval ratings of more than 80%. But the authoritarian leader has moved to consolidate power by firing all judges more than 60 years old, and replacing five judges in the Supreme Court’s constitutional chamber.
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Originally Posted by Ooloo
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