El Salvador’s Democratic Assembly Approves $150 Million Bitcoin Trust

Bitcoin Magazine

The deputies of the Finance Commission of the Legislative Assembly of El Salvador agreed Monday to create a $150 million Bitcoin trust to facilitate exchange between Bitcoin and U.S. dollars in El Salvador, according to the national newspaper El Diario de Hoy.

The El Salvadoran Minister of Economy, María Luisa Hayém Brevé, reportedly said that there is a possibility of increasing the initial $150 million allocation.

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“We have several teams in the territory to show the population how to use the Chivo Wallet. We have developed a friendly application,” so that the El Salvadorans can learn to use Bitcoin, the minister explained.

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