The government of El Salvador, a Central American country, has announced the creation of a bitcoin city. No tax will be levied on the residents of this city and the energy needs of the city will be met by a volcano.
According to foreign media, the city of Bitcoin will be built in the shape of a bitcoin in the shape of a circle in El Salvador. Residents of this city will have complete tax exemption and will not be charged income, property or other taxes.
El Salvador's Palestinian-born vice president, Bouquelle, said Bitcoin City would have all the facilities of other cities and would be powered by a volcano. The government will also issue a ارب 1 billion bitcoin bond, half of which will be spent on buying bitcoins and half on city infrastructure.
Addressing the closing ceremony of a week-long campaign to promote bitcoin in El Salvador, President Bouquel said the city would be relocated to the country's Eastern Region Law Union. Investors invest in this city and make as much money as they want. It will be a completely pollution free city.
In September of this year, El Salvador adopted the bitcoin as a legal tender, making it the first country in the world to take such a step.
