El Salvador govt seeks Congress approval to issue bitcoin-backed bonds

FILE PHOTO: A representation of bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

SAN SALVADOR (Reuters) - The government of El Salvador, the first country in the world to adopt bitcoin as legal tender, is seeking congressional approval to issue investment bonds in the cryptocurrency.

El Salvador's government-controlled legislature announced late on Tuesday it had received a bill dubbed the "Digital Assets Issuance Law," aimed at regulating the offering of such bonds to local and foreign investors.