SSE Index. The last purchase was made in July when it bought 80 bitcoins. El Salvador announced Monday it will issue bitcoin bonds in the first quarter of , the proceeds of which are expected to finance the construction of a "Bitcoin City" powered by a volcano. The digital securities law, first proposed in November , was passed with a majority of 62 votes to 16 against and will be signed into law by president Nayib Bukele.
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Read MoreSixty-two legislators voted for the law today, and 16 voted against it, and the law was finally passed in January Got a hot tip? Now that Bitcoin price is up again and the legislative approval has been cleared, the issuance of Volcano Bonds seems almost imminent � potentially starting as early as next month. If successful, the bond could help the Central American nation avoid defaulting on its debt, although the International Monetary Fund has for years urged El Salvador to get rid of Bitcoin as a legal currency. News Cryptocurrency News.