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.
Dalai Lama in Ladakh: Religious leader Dalai Lama's visit to Ladakh is religious
Tibetan religious leader Dalai Lama arrived at Leh airport on Friday. He left for Ladakh from Jam
The DC Universe finally got its superhero Superman. Yes, James Gunn's rebooted DC Universe will s
Today, 33 years ago on June 4, 1989, in Tiananmen Square, Beijing, the capital of China, thousand
US President Joe Biden addressed the State of the Union on Wednesday morning. During his address,
IPL has given many new cricket stars to the world. This league has given India many superstars li
Vice President Election 2022: The date for the Vice Presidential election has been announced. If
The Pakistan Cricket Board (PCB) on Friday announced separate central contracts for Tests and lim
Xiaomi 13 Pro smartphone launch revealed, price leaked, know features
Xiaomi 13 Pro Launch Date: Xiaomi has recently introduced its Xiaomi 12 series, but now it is kno
Ben Stokes Injury: Big blow to Chennai before IPL 2023, Ben Stokes will not bowl in opening matches
Before the start of IPL 2023, Chennai Super Kings have suffered a major setback. The team's star
PSG got another defeat on their home ground, fans got angry with Messi, and teased the middle ground
The team of Paris St. Germain, adorned with star footballers Lionel Messi, Neymar, and Kylian Emb
