El Salvador's Bitcoin 'Volcano Bonds' Get Regulatory Approval

Set to be issued in Q1 2024, the bonds mark a significant step in the country's embrace of Bitcoin despite international criticism.

El Salvador's Bitcoin bonds, known as 'Volcano Bonds', have received regulatory approval from the country's Digital Assets Commission.
The bonds are expected to be issued during the first quarter of 2024 on the Bitfinex Securities Platform.
The issuance of these bonds has been a long-term ambition of President Nayib Bukele, aiming to raise $1 billion for infrastructure and Bitcoin mining.
The bonds were initially planned to be issued in 2022, but were postponed several times due to market volatility and geopolitical issues.
The country's move towards Bitcoin has caused friction with the International Monetary Fund, which has called for El Salvador to reverse its Bitcoin Law.