{"id":22903,"date":"2024-06-15T10:00:22","date_gmt":"2024-06-15T07:00:22","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22903"},"modified":"2024-06-15T09:30:53","modified_gmt":"2024-06-15T06:30:53","slug":"el-salvadors-private-bitcoin-investment-banks","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/el-salvadors-private-bitcoin-investment-banks\/","title":{"rendered":"El Salvador\u2019s President Bukele Proposes Private Bitcoin Investment Banks"},"content":{"rendered":"<p><strong>The pro-Bitcoin president of El Salvador, Nayib Bukele,<\/strong> is suggesting the creation of private investment banks inside the country. If allowed, these institutions will provide Bitcoin investors access to financial services free from more limitations than more conventional banks.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/el-salvadors-private-bitcoin-investment-banks\/#New_Bitcoin-Friendly_Financial_Institutions_Could_Attract_Global_Investors\" title=\"New Bitcoin-Friendly Financial Institutions Could Attract Global Investors\">New Bitcoin-Friendly Financial Institutions Could Attract Global Investors<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/el-salvadors-private-bitcoin-investment-banks\/#Proposed_BPI_to_Operate_with_Fewer_Restrictions_than_Traditional_Banks\" title=\"Proposed BPI to Operate with Fewer Restrictions than Traditional Banks\">Proposed BPI to Operate with Fewer Restrictions than Traditional Banks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/el-salvadors-private-bitcoin-investment-banks\/#Legislative_Procedure_and_Possible_Economic_Effect\" title=\"Legislative Procedure and Possible Economic Effect\">Legislative Procedure and Possible Economic Effect<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"New_Bitcoin-Friendly_Financial_Institutions_Could_Attract_Global_Investors\"><\/span>New Bitcoin-Friendly Financial Institutions Could Attract Global Investors<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>\u201cAs part of our economic plan for El Salvador, we propose a BPI, or Bank for Private Investment, where we can diversify the financing options offered to potential investors in dollars and bitcoin\u201d the Salvadoran Ambassador to the United States, Milena Mayorga, wrote on June 14 on X. \u201cThrough more flexible financial services, this project seeks to draw in international investors.\u201d<\/p>\n<p><strong>Senior Bitcoin advisor to Bukele, Max Keiser,<\/strong> added on the same day, \u201cPresident Bukele hits the ground running in a new term with new legislation establishing a Bitcoin Bank\u201d pointing out Ark Invest CEO Cathie Wood&#8217;s prediction that El Salvador&#8217;s real GDP could scale 10-fold during the next five years \u201chas just become more likely.\u201d Two weeks separate this development from Bukele&#8217;s swearing in for another five-year presidential term following a resounding victory in February.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Proposed_BPI_to_Operate_with_Fewer_Restrictions_than_Traditional_Banks\"><\/span>Proposed BPI to Operate with Fewer Restrictions than Traditional Banks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>El Mundo<\/strong> claims the BPI will not be subject to the same strict regulations as established banks. They will, for example, have no restrictions on interacting with foreign banks or finance firms linked to their shareholders or in a business group. Loan limits will also be dropped. The June 14 report further said: <em>\u201cInvestment banks will also not be subject to the prohibition of &#8216;granting credit or assuming risks for more than 25% of their asset fund in relation to the same person.&#8217;\u201d<\/em><\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/binance-will-support-fet-ocean-and-agix-token-merger\/\"><em><span style=\"font-weight: 400;\">This Might Interest You:\u00a0<\/span>Binance Will Support FET, OCEAN and AGIX Token Merger<\/em><\/a><\/p>\n<p>If accepted, the new private investments must be established with a minimum share capital of <strong>$50 million<\/strong> and call for at least two shareholders, who might be foreigners. A BPI might even seek permission to become a digital asset and Bitcoin service provider, running in any legal tender, including the United States Dollar and Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Legislative_Procedure_and_Possible_Economic_Effect\"><\/span>Legislative Procedure and Possible Economic Effect<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Under Bukele&#8217;s guidance, Mar\u00eda Luisa Hayem,<\/strong> <strong>Minister of Economy for El Salvador,<\/strong> presented the revision to the Technology, Tourism, and Investment Commission. \u201cThe approval is still under review, though.\u201d \u201cThe reform has not been approved; the legislators have not yet agreed to call officials to consult the objectives of the project nor have it voted in the Commission\u201d it said.<\/p>\n<p>By drawing international investors and using El Salvador&#8217;s pro-Bitcoin posture to stimulate economic development, this project might greatly change the financial scene of the country. The action aligns with Bukele&#8217;s broader strategy to position El Salvador as a leader in the bitcoin market, potentially leading to a ten-fold GDP growth for the country over the next five years.<\/p>\n<p><a href=\"https:\/\/t.me\/coinengineernews\"><em><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!<\/span><\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The pro-Bitcoin president of El Salvador, Nayib Bukele, is suggesting the creation of private investment banks inside the country. If allowed, these institutions will provide Bitcoin investors access to financial services free from more limitations than more conventional banks. New Bitcoin-Friendly Financial Institutions Could Attract Global Investors \u201cAs part of our economic plan for El<\/p>\n","protected":false},"author":6,"featured_media":22904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,1],"tags":[6852,1828,4135],"class_list":["post-22903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-genel","tag-bitcoin-investment-banks","tag-el-salvador","tag-nayib-bukele"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>El Salvador\u2019s President Bukele Proposes Private Bitcoin Investment Banks - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/el-salvadors-private-bitcoin-investment-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Salvador\u2019s President Bukele Proposes Private Bitcoin Investment Banks - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The pro-Bitcoin president of El Salvador, Nayib Bukele, is suggesting the creation of private investment banks inside the country. 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