Having adopted Bitcoin as legal tender in 2021, El Salvador is pushing its Bitcoin initiative further by partnering with the Texas government. As part of the intergovernmental partnership, El Salvador will develop an office in Texas to help promote the transparency of Bitcoin. This representative office will serve as a platform for working on a new joint project.
El Salvador’s ambassador to the US, Milena Mayorga, announced the news via Twitter. This is the country’s second Bitcoin embassy, following the launch of a similar initiative in the southern Swiss city of Lugano, which opened in October of 2022.
Two pro-crypto authorities have now begun to work on establishing the presence of a physical government in order to promote cooperation between educational institutions and conduct research relating to the Bitcoin ecosystem through their efforts in this area.
Samson Mow, the former chief strategy officer for Blockstream, believes the Bitcoin Embassies will help foster crypto adoption. In light of the recent report that Texas lawmakers are considering enacting legislation that calls for more regulatory oversight of blockchain companies, the news follows reports that lawmakers are considering tax-free Bitcoin purchases in an attempt to make Texas the crypto capital of the US.
Texas recently emerged as one of the most crypto-friendly states in the country after it passed laws that aligned its business laws with blockchain developments and digital property laws. Home to some of the largest Bitcoin miners in North America, Texas Riot Blockchain, Core Scientific and Genesis Digital Assets have opened their mining headquarters in the state.