Salvadoran President Nayib Bukele posted a vintage poster urging people to move to El Salvador.
— Nayib Bukele (@nayibbukele) March 27, 2023
“Move to El Salvador — the new land of the free [people],” reads on the image.
Among the country’s advantages listed on the poster are:
- low crime rate;
- no mass killings, looting and the fentanyl crisis;
- the U.S. dollar and Bitcoin recognised as legal tender;
- magnificent beaches, weather and coffee.
Earlier this week, Bukele promised to send to the Salvadoran Congress a bill to repeal all taxes on technological innovation and the manufacture of computing and communications equipment.
Balaji Srinivasan, a former chief technology officer of the cryptocurrency exchange Coinbase, and Bitcoin advocate Jason Williams supported the initiative and envisaged growth in migration to the country in light of such changes.
In September 2021, Salvadoran authorities recognised digital gold as legal tender. The International Monetary Fund criticised the decision and recommended stripping the cryptocurrency of that status.
In July 2022, the country’s finance minister Alejandro Zelaya said that the rollout of digital gold expanded access to financial services to a largely unbanked population, attracted tourists and investments.