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Sunday, June 4, 2023

El Salvador Considers Opening Second Bitcoin Embassy in Texas to Boost Economic Exchange

El Salvador Considers Opening Second Bitcoin Embassy in Texas to Boost Economic Exchange – Milena Mayorga, the Salvadoran ambassador to the United States, discussed her recent meeting with Texas Secretary of State Joe Esparza this week. Mayorga indicated that state officials were considering building a second bitcoin embassy in the state. She mentioned that negotiations about a similar bitcoin embassy concept had also taken place with authorities in Lugano, Switzerland.

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“The state of Texas, our new ally,” Mayorga tweeted. “In my meeting with the deputy 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.”

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The Salvadoran ambassador’s request comes after El Salvador approved the Digital Assets Issuance Law in January 2023 and the International Monetary Fund’s latest mission statement on El Salvador’s economy. The IMF stated that El Salvador had avoided cryptocurrency-related concerns due to the country’s sluggish and hesitant adoption of bitcoin. This development followed remarks by Salvadoran President Nayib Bukele about media disinformation.

El Salvador’s finance minister, Alejandro Zelaya, took to Twitter to refute claims made by some national and international media, tweeting: “El Salvador has met its debt obligations. We announce that on this day we have completed the payment of the 2023 Bond for $800 million, plus interest.”

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Mayorga, the Salvadoran ambassador, stated in her own Twitter thread that Texas Secretary of State Joe Esparza had expressed a favourable perspective of El Salvador-Texas commercial and economic interaction, with the two organizations having exchanged $1,244,636,983 in 2022.


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