El Salvador is planning to establish a "Bitcoin Embassy" in the United States

As the government of El Salvador establishes a "Bitcoin Embassy" in the United States, the largest cryptocurrency in the world, Bitcoin BTC tickers down $24,065, is establishing connections with additional nations.

El Salvador, a nation that made Bitcoin legal tender in 2021, is enhancing its Bitcoin strategy with a fresh collaboration with the Texas government. In order to engage on fresh cooperative initiatives to encourage Bitcoin use, the intergovernmental partnership plans to establish a Bitcoin Embassy, or El Salvador's representative office, in Texas.

On February 14, the Salvadoran ambassador to the United States, Milena Mayorga, tweeted the information.

The expansion of commercial and economic exchange initiatives, as well as the opening of the second Bitcoin Embassy, were topics of discussion during Mayorga's meeting with the assistant secretary of the Texas government, Joe Esparza.

The most recent Bitcoin project was launched a short time after El Salvador established the first Bitcoin Embassy in Lugano, a city in southern Switzerland, in October 2022. The two pro-crypto jurisdictions began working on establishing a physical government presence as part of the measures to encourage collaboration in educational and research institutions related to Bitcoin.

The emergence of the Bitcoin embassy, in the opinion of previous Blockstream Chief Strategy Officer Samson Mow, is the next step in the adoption of Bitcoin by cities and nation-states. According to him, such projects entail international collaboration to create fresh initiatives like forging partnerships amongst nations that have adopted Bitcoin.

The information comes as state lawmakers in Texas are allegedly exploring a new bill that would establish "a master plan for the evolution of the blockchain business." In addition to other measures, the legal initiative intends to make Texas the nation's cryptocurrency capital by allowing tax-free Bitcoin purchases.

As was previously disclosed, Texas has emerged as one of the U.S. states that is most supportive of cryptocurrencies, implementing laws that are intended to better align business rules with blockchain innovation. In addition, Texas is home to some of the biggest Bitcoin miners in North America, including Riot Blockchain, Core Scientific, and Genesis Digital Assets.

Article Credit: Cointelegraph

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