Crypto Mania

El Salvador’s $1M Crypto Citizenship!

Crypto Live News

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

El Salvador has introduced a new citizenship-by-investment program that requires a Bitcoin or Tether investment of $1 million for residency and a pathway to citizenship for up to 1,000 people. While this is a significant income source for countries with similar programs, such as Vanuatu, the price tag is more expensive than those offered by neighboring Caribbean countries, which start at $100,000. Malta offers a cheaper option at $810,000 for EU citizenship. Critics have called El Salvador’s program “uncompetitive in the global market.” However, crypto investors may be attracted by President Nayib Bukele’s pro-Bitcoin policies, including recognizing Bitcoin as legal tender and tax breaks for tech companies.

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