Nayib Bukele

“There will be no taxes to pay on either the capital increase or the income,” the legal adviser to President Nayib Bukele said.

After buying 400 bitcoin yesterday, President Nayib Bukele announces they bought the recent price dip and now own 550 BTC.

El Salvador President Nayib Bukele confirms on Twitter that the country and bought 200 BTC and plans to buy more.

A pair of high-ranking officials in El Salvador’s ruling party, Nuevas Ideas, took aim at critics who stand in opposition to the country’s forthcoming Bitcoin legal tender law on Tuesday.

The Finance Commission of the Legislative Assembly of El Salvador agreed Monday to create a $150 million Bitcoin trust to facilitate exchange between Bitcoin and U.S. dollars in El Salvador.

Small groups of protestors have taken to the streets one week before El Salvador adopts Bitcoin as legal currency. Protests against the Bitcoin law are becoming more common ahead of it taking effect on September 7th.

The President of El Salvador, Nayib Bukele, announced that 200 ATMs and 50 in-person kiosks are being built to launch on September 7. President Bukele also noted that the government will facilitate the buying and selling of Bitcoin without collecting any commission.

BofA sees four upsides to Bitcoin adoption in El Salvador, including remittances, financial digitalization, and foreign investments.

El Salvador’s president announced the country’s official bitcoin wallet, Chivo, to be launched in September and give $30 in BTC to users.