The National Bitcoin Office informed that the bitcoin-backed state bond has received regulatory approval from the National Commission of Digital Assets.
The National Bitcoin Office (ONBTC) informed this Monday via “X” that the Bono Volcán, a bitcoin-backed state bond announced by President Nayib Bukele, has received regulatory approval from the National Commission of Digital Assets (CNAD) and will be issued during the first quarter of 2024.
“The Volcano Bond has just received regulatory approval from the Digital Assets Commission (CNAD). We anticipate that the bond will be issued during the first quarter of 2024. This is just the beginning of new bitcoin capital markets in El Salvador,” the institution wrote.
In a consultation by digital media, the director of the ONBTC, Stacy Herbert, explained to “Diario El Salvador” that now that the approval of the commission is in place, it will be up to the Salvadoran president to set the date for the issuance.
She also emphasized that although some media questioned the delay of the launch, this could not be done because there were no regulations that would give way to the operation in a safe way and with clear rules.
“While everyone kept complaining during the last 18 months, the fact is that we did not have the regulatory regime to even issue the bonds, but now we have the approval. Now it is up to President Bukele when we will issue the bonds. However, we expect it to come sometime in the first quarter,” he said.
The launch will be made through the platform of Bitfinex Securities, the first company to obtain the license to provide digital asset services in El Salvador, under the Law of Issuance of Digital Assets.
Source: Diario El Salvador
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