Second bitcoin embassy of El Salvador opens in Texas

In the US state of Texas, the authorities of El Salvador intend to open a second bitcoin embassy, the country’s diplomatic representative in the United States said. The first such bitcoin embassy is located in the Swiss city of Lugano.

Unlike conventional virtual BTC communities, the “Bitcoin embassy” is a physical place for the participants of the crypto community to interact with each other. Events are organized there where every bitcoin enthusiast can discuss decentralized digital currencies with colleagues. The Embassy is not a commercial organization, acting as an intermediary for various events.

“El estado de Texas, nuestro nuevo aliado. En mi encuentro con el Secretario Adjunto del Gobierno de Texas, Joe Esparza @TXsecofstate, abordamos la apertura de la segunda Embajada Bitcoin y de ampliar los proyectos de intercambios comerciales y economicos.”

In 2021, El Salvador became the first country to declare bitcoin an official means of payment.. President Nayib Bukele called the move historic for the country as a whole and for the 70% of Salvadorans who had no bank accounts in particular.

In early February, after an official visit to El Salvador, representatives of the International Monetary Fund (IMF) made a statement that the country’s authorities should review their Bitcoin policy.. The IMF is confident that El Salvador should refrain from trading in cryptocurrencies, since the proposal of a new debt financial instrument nominated in the BTC in the long term could negatively affect fundamental macroeconomic indicators.

In El Salvador, the position of the IMF, like the position of critics of the adoption of bitcoin, is considered biased. Bukele says that numerous foreign media outlets that actively predicted bankruptcy for the country completely ignored its financial success.