El Salvador Volcano Bond Regulatory Approval event
Overview
El Salvador's Volcano Bond — a bitcoin-backed sovereign debt instrument first announced in November 2021 and originally planned for issuance in March 2022 — received regulatory approval from the country's National Commission for Digital Assets (CNAD) on December 12, 2023, after nearly two years of delay. The approval, announced by the National Bitcoin Office, was the first digital-asset issuance authorised in El Salvador and was tied to the government's plans for bitcoin mining powered by geothermal volcanic energy and the proposed Bitcoin City. Issuance was subsequently targeted for the first quarter of 2024.
Within the DeFi Intel graph, El Salvador Volcano Bond Regulatory Approval connects to 1 tracked entity, most strongly to El Salvador.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 1 of 1 total).
| Relation | Connected entity | Confidence |
|---|---|---|
launched | El Salvador | 90% |
Frequently asked questions
Who approved the Volcano Bond and when?
El Salvador's National Commission for Digital Assets (CNAD) granted regulatory approval on December 12, 2023.
Why was the approval significant?
It was the first digital-asset issuance ever approved in El Salvador, which the National Bitcoin Office framed as the start of a bitcoin capital markets industry in the country.
Why had the bond been delayed?
The bond was originally planned for issuance in March 2022 but was postponed for nearly two years before regulatory approval was obtained in December 2023.
Sources
Facts on this page were verified against the following sources.