Milena Mayorga, El Salvador’s ambassador to the United States, said that Salvadoran authorities could open a bitcoin embassy in Texas.
The Central American nation has already opened a BTC office in the city of Lugano, Switzerland.
The Second BTC Embassy
Mayorga held a meeting with José “Joe” Esparza (Texas Under Secretary of State) to discuss the new initiative, sketching the financial connection between El Salvador and the region:
“We discussed the opening of the second Bitcoin embassy and the expansion of commercial and economic exchange projects. In 2022, El Salvador and the State of Texas had a commercial exchange of $1,244,636,983.”
The second largest state in the US has become a blockchain hub due to friendly regulations and the pro-crypto stance displayed by national authorities. In addition, the relatively low price of electricity and favorable weather conditions have attracted many bitcoin miners to settle there.
Ted Cruz, an American politician who is serving as a junior US Senator from Texas, is an outspoken supporter of BTC. He has praised its decentralized character as its main merit.
The Republican is also critical of the possible creation of a digital dollar. He inserted a bill last year that would prohibit the Federal Reserve from launching such a monetary product.
“This bill goes a long way to ensuring that big government does not attempt to centralize and control cryptocurrency so that it can continue to thrive in the United States. We should empower entrepreneurs, allow innovation and increase individual freedom, not stifle it,” he said at the time.
The First Embassy was in Switzerland
El Salvador signed a memorandum of understanding with the city of Lugano, Switzerland, several months ago and Opened a bitcoin office there.
“My fellow Salvadorans and I are very excited about the promise of Bitcoin and I look forward to seeing how this initiative will help increase access to economic security and economic freedom for all,” Mayorga stated in October 2022.
Like their Salvadoran colleagues, the Lugano authorities have also shifted their focus to bitcoin. They declared BTC, Tether (USDT) and the city’s LVGA legal tender a year ago.
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