The Government of El Salvador opened the National Bitcoin Office (ONBTC). He will control all local projects related to the first cryptocurrency. The office is established by decree signed by the President and the Minister of Tourism.
ONBTC will develop, analyze and evaluate plans, programs and projects related to Bitcoin and aimed at the economic development of El Salvador. If necessary, the division will also be able to cooperate with other countries in matters related to the first cryptocurrency.
Among the main functions of the organization is the conceptualization and provision of information related to Bitcoin, blockchain and cryptocurrencies in El Salvador to “the media and any interested parties.”
All government agencies are required to assist the National Bitcoin Office in the performance of its functions. The director of ONBTC will be appointed by the head of state.
Earlier, the country’s authorities began considering a bill designed to introduce into the legal field the procedure for interaction with providers and issuers of virtual asset services.