Bitcoin: Miss Universe El Salvador wears BTC costume at pageant

Paigambar Mohan Raj
Source: Imgur

Alejandra Guajardo is El Salvador’s representative at the Miss Universe pageant in New Orleans. Guajardo was spotted donning clothes with various national currencies throughout El Salvador’s history. Unsurprisingly, Bitcoin (BTC) is one of the currencies on her costume.

The Miss Universe is a global platform, and the country did not miss an opportunity to showcase its love for the original crypto.

El Salvador created history on September 7th, 2021, when it legalized Bitcoin (BTC) as a legal tender. By doing so, it became the first country to legalize cryptocurrency. However, many protested against the move. It forced businesses to accept BTC, whether they wanted to or not.

El Salvador passes new laws for Bitcoin and crypto

On Wednesday, El Salvador enacted a bill that aims to control the issuing of digital assets by both public and private institutions. Along with El Salvador’s president, Nayib Bukele, the ruling party introduced the measure as a way of attracting domestic and foreign investments. The law aims to give people, organizations, and the government new ways to finance themselves.

The new law aims “to establish the legal framework that grants legal certainty to transfer operations to any title of digital assets used in public issuance offers.”

The measure also establishes the regulatory framework for “Volcano Bonds,” or bonds backed by Bitcoin (BTC). The nation intends to utilize the bonds to pay off its debt and finance the development of the envisioned Bitcoin City. The law isolates digital currencies, including those issued by central banks, from all other assets and financial instruments. Additionally, it also distinguishes Bitcoin from the rest of the cryptocurrency market by designating them as digital securities.

Bitcoin (BTC) is enjoying a rally entering the first month of 2023. At press time, the original cryptocurrency was trading at $18,215.40, up by 4.6% in the last 24 hours.