El Salvador is to build a tax-free "Bitcoin City" — a city with residential and commercial real estate, restaurants, an airport and rail connections, which borders will be rounded similar to a coin, and a complex with
a giant BTC symbol is to be built in the center.As part of the initiative, El Salvador will issue
$1 billion worth of "Bitcoin Bonds," of which $500 million will be spent to prepare the infrastructure for mining, and the other $500 million is planned to be invested directly in the first cryptocurrency.
The only tax will be VAT, with which the authorities plan to redeem the bonds.
