El Salvador now is setting up a “Bitcoin Embassy” in Texas

In a recent blog post, El Salvador’s ambassador to the United States, Milena Mayorga, discussed the possibility of establishing a “Bitcoin Embassy” in Texas with Texas’s deputy secretary of state, Jose A. “Joe” Esparza.

Founder and CEO of Bitcoin payments firm Zap Solutions (which leverages the Lightning Network) Jack Mallers made the announcement during the Bitcoin 2021 conference in Miami on June 5, 2021.

An emotional Mallers played a video greeting from President Bukele and read a brief excerpt from the proposed legislation during his speech. Mallers continued by saying his company, together with Blockstream, will launch an innovation hub in El Salvador.

This proposed legislation was enacted by the Assembly on June 9, 2021. (with 62 out of 84 voting in favour of it).

The next day, Reuters reported that in a national speech on 24 June 2021, President Nayib Bukele of El Salvador had declared that the country’s “Bitcoin Law” will go into force on 7 September 2021.

President Nayib Bukele appointed Mayorga as El Salvador’s ambassador to the United States on September 23, 2020. She was a member of El Salvador’s legislature from 2018 to 2020 before being appointed ambassador.

During the Plan B Forum in Lugano, Switzerland, on October 28, 2022, Mayorga discussed her country’s experience with the Bitcoin Standard. El Salvador and Lugano, Switzerland have struck an agreement to promote the use of bitcoin in both nations’ local economies and those of its neighbours, according to a report from CoinDesk.

The creation of a second “Bitcoin Embassy” and the extension of commercial and economic exchange initiatives were reportedly discussed during a meeting between Mayorga and the Deputy Secretary of the Government of Texas, as reported by Mayorga on Tuesday (14 February 2023).

Also Read: The Cosmos Interchain Foundation Will Invest $40M In Ecosystem Development In 2023

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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