Today marked the commencement of the inaugural master class of the Cubo+ program held at Don Bosco University in Soyapango. The introductory segment of the course was led by Alejandro Muñoz, a licensed lawyer and notary of the Republic of El Salvador. Muñoz, with his extensive background in community law concerning Central American commercial policies, particularly in technical regulations (RTCA) regarding labeling of food, beverages, medicines, and cosmetics, as well as matters such as net content, food safety, sanitary registration, recognition of imported goods, and health establishment registration, among others, provided valuable insights.
The primary focus of this first introductory class to the Cubo+ ECON generation program was to address Bitcoin from a legal standpoint. The session was divided into key areas: Bitcoin whitepaper, history of money, El Salvador (context), and the legal implications of Bitcoin.
Muñoz emphasized the advantage of El Salvador pioneering Bitcoin adoption, positioning Salvadorans ahead in understanding transactions and related aspects compared to other nations. He discussed the benefits of fostering technological advancements within El Salvador and the favorable legal framework provided by laws such as the Digital Assets Law.
“El Salvador has entered the revolution and has secured its place in the history of money,” asserted Muñoz, referencing the country’s decision to make Bitcoin legal tender as of September 7, 2021.
Encouraging students of the program, Muñoz urged them to start developing innovations, leveraging the wealth of information and preparedness the country offers regarding Bitcoin.
Explaining the legal status of Bitcoin in El Salvador, Muñoz outlined five key guarantees:
- Purchasing and spending power
- Unrestricted use and national circulation
- No capital gains tax
- Ability to pay taxes in BTC
- No exchange tax
The class concluded with students inspired to continue the program, impressed by the quality of content, and eager to progress, knowing that their knowledge will ultimately position them advantageously within the Bitcoin community and among enthusiasts.