El Salvador’s New Migration Law: Expedited Citizenship for Bitcoin Investors!

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El Salvador’s Congress has approved a new migration law that grants expedited citizenship to foreigners who donate Bitcoin to the country’s social and economic development programs. The law, which is expected to come into force in the coming days, was passed with support from President Nayib Bukele’s New Ideas party. The bill, labelled a “vital interest” of Bukele’s, does not specify a minimum donation requirement for foreigners interested in supporting El Salvador’s development through Bitcoin donations. This move comes two weeks after El Salvador launched a Bitcoin “Freedom Visa” for foreign investors willing to invest $1 million in BTC or Tether into the country.