El Salvador is planning to build the world's first "Bitcoin City". President Nayib Bukele said that they are planning to build the city in the eastern region of La Union. He said that this city would get geothermal power from a volcano. No taxes will be imposed there except for value added tax. This will initially be funded by Bitcoin-backed bonds.
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Tags : Nayib Bukele, El Salvador, Bitcoin City, VAT,
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