Milena Mayorga – ambassador of El Salvador to the United States – said the Salvadoran authorities might open a bitcoin embassy in Texas.
The central American nation has already introduced a BTC office in the city of Lugano, Switzerland.
The Second BTC Embassy
Mayorga held a meeting with Jose “Joe” Esparza (Texas Deputy Secretary of State) to discuss the new initiative, outlining 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 US state has emerged as a blockchain hub due to the friendly regulations and the pro-crypto stance displayed by the domestic authorities. In addition, the relatively low price of electricity and the favorable climate conditions have attracted numerous bitcoin miners to settle there.
Ted Cruz – an American politician serving as the junior US senator for Texas – is an outspoken supporter of BTC. He has praised its decentralized nature as its main merit.
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The Republican is also a critic of the possible creation of a digital dollar. He introduced a bill last year that could forbid the Federal Reserve from launching such a monetary product.
“This bill goes a long way in making sure big government doesn’t attempt to centralize and control cryptocurrency so that it can continue to thrive and prosper in the United States. We should be empowering entrepreneurs, enabling innovation, and increasing individual freedom – not stifling 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 by 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.
Similar to their Salvadoran colleagues, the authorities of Lugano have also shifted their focus toward bitcoin. They declared BTC, Tether (USDT), and the city’s stablecoin LVGA legal tender a year ago.
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