Bitcoin News

El Salvador labels all crypto assets as securities, except for Bitcoin

El Salvador, known for being the first country to make Bitcoin a legal tender, passed a new bill on cryptocurrencies. Announced on Twitter, the bill provides a legislative framework for a Bitcoin-backed bond, called “Volcano Bond”, but it also characterizes all crypto assets aside from Bitcoin as securities.

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The aim of this new legal framework is to ensure « unprecedented consumer protection », in a context where a lot of regulators worldwide are looking to speed up harsher regulations, following the fall of the FTX empire. A new agency is being created, which will be tasked with applying securities laws and protecting customers as well as issuers in El Salvador.

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Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
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