The world is waiting for the commencement of his plans by September. Moreover, the law for bitcoin legalization has already been signed.
While the wait continues for the execution, the president’s brothers make a bigger plan for the country. From the latest news on the country, it seems that the president’s brothers are planning the development of a stablecoin as they’re already presenting the idea to investors.
The news came from the reports of a digital newspaper in Latin America, El Faro. The information has it that El Salvador consumers will use stablecoin for services.
Comments From Bukele Brothers
According to what the president brothers revealed to investors, the crypto, which they call the “Colon dollar,” will become a reality before 2021 ends.
Ibrahim & Yusuf Bukele had pitched the proposal to investors, and the report from the digital newspaper also pointed to the video recordings about it.
In the proposal discussion, the brothers told the prospective investors that they’re representing the interests of the El Salvador President.
With the approval of this law, residents can use Bitcoin to pay for goods & services come September 2021. Also, the residents can pay taxes and other bills using bitcoin.
Will El Salvador Issue A Stablecoin?
Concerning the plan to create a stablecoin in El Salvador, the government spokesperson revealed that it is no longer in play. But another source who wishes to remain anonymous stated that the plan is still on track.