El Salvador seeks to expand its strategy to promote bitcoin in the world, and for this it has dedicated efforts to establish diplomatic representations to deal with issues related to cryptocurrency and attract investment.
The latest initiative in this regard was announced by the ambassador of El Salvador to the United States, Milena Mayorga, who assured that after holding a meeting with the assistant secretary of the government of Texas, United States, Joe Esparza, it had been agreed to open an embassy in the city of Austin.
«The state of Texas, our new ally. In my meeting with the assistant secretary of the government of Texas, Joe Esparza, we discussed the opening of the second bitcoin embassy and the expansion of commercial and economic exchange projects,” she pointed out.
“The bitcoin market has responded positively to some actions that the government has taken, including opening the second bitcoin embassy, which is a trade office in places that are very important for the ecosystem,” the official highlighted.
Mayorga explained that the first one was inaugurated in October last year in Lugano, Switzerland, after the signing of a Memorandum of Understanding on Economic Cooperation with the mayor of that city.
“I am very pleased to have signed that historic partnership with Lugano. We share a love of innovation and bold ideas, and that initiative was a game changer and an inspiration for the future deal with Texas,” she said.
The diplomat assured me that the North American nation is still awaiting the signing of an agreement similar to the one made in Europe, as well as the designation of who will lead the office.
“We hope that with this embassy, a greater flow of companies will be attracted. Many of the bitcoin companies have already shown interest in setting up operations in El Salvador,” she said.
Texas bets on cryptocurrencies
Crypto outlet Cointelegraph recently reported that Texas lawmakers may be considering “a master plan for the expansion of the blockchain industry.” This would seek to turn that state of the North American country into a “crypto-capital” by introducing tax-free purchases with bitcoin.
According to the post, Texas has emerged as one of the most crypto-friendly US states, passing laws that envision aligning trade laws with bitcoin innovation and digital asset regulations.
In addition, it is already the birthplace of large bitcoin mining companies such as Riot Blockchain, Core Scientific, and Genesis Digital Assets.