The government of El Salvador has announced the creation of the Bitcoin State Office (ONBTC), which will coordinate all local projects related to the flagship cryptocurrency.
ONBTC’s main task will be to develop, plan, program, coordinate, analyze and evaluate plans, programs and projects related to Bitcoin to promote the economic development of the country. Through the new office, Bitcoin enthusiasts can arrange a meeting with President Nayib Bukele to discuss steps to help bring blockchain and Bitcoin into various areas of life.
In addition, ONBTC will work closely with various ministries to develop adequate regulations that will regulate the activities of crypto companies.
El Salvador’s lawmakers have already begun studying a bill to oversee local digital asset service providers and cryptocurrency issuers last week. Creating educational programs on blockchain and cryptocurrencies for Salvadorans is also one of the main tasks of ONBTC.
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