Central America-based country El Salvador is planning to build the world's first bitcoin city, which will initially be funded by bitcoin-backed bonds. El Salvador President Nayib Bukele said in a statement on Saturday that, “Bitcoin has doubled its investment in El Salvador to promote investment and use of cryptocurrency. Eastern Region of La Union This city to be built in the U.S. will get a new development dimension from bitcoin, and will not be taxed at all except value-added tax (VAT)." President Nayib Bukele was addressing the conclusion of a week-long Bitcoin promotion program in the country.
Apart from this, President Bukele also gave a statement saying, "Invest here and earn money as you wish. This place is completely dedicated to it." Half of the VAT levied on bitcoin will be used to fund bonds issued to build the city, and the remaining half will be paid for services such as tax collection and garbage collection. In addition, about 300,000 bitcoins will be spent on creating the public infrastructure.
This September, El Salvador also became the first country in the world to legally recognize bitcoin. Giving information about the structure of the city, the President said that the aerial view of the city would look like bitcoin. Apart from this, the airport will also be constructed in this city along with commercial and residential buildings. An initial bond issue involving bitcoin is planned in El Salvador in 2022.
Four days after the Ram Navami riots broke out in Khargone, Madhya Pradesh, two CCTV footage of t
China has made a big bet to suppress the protest of Uygar Muslims in Xinjiang province. To elimin
There is anger not only in India but in the whole world regarding the terrorist attack in Pahalga
The release of 'Border 2', one of the most anticipated films of 2026, is just two days away. This
Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat said on Sunday, December 21, during an even
The survey report on the Gyanvapi controversy was presented on Monday. Both sides took their poin
Before the match against India in the T20 World Cup on Sunday (October 23), Pakistan suffered a m
Top pistol shooter Manu Bhaker, who was reportedly not nominated for the country's biggest sports
American airplane company Boeing will invest Rs 1,600 crore in research and development (R&D)
GDP: Growth rate revised to 9.1 percent for 2021-22, to grow at 7% in 2022-23
The government has revised the economic growth rate for the year 2021-22 from 8.7 percent to 9.1
