• El Salvador is planning to open a second Bitcoin Embassy in Texas with Milena Mayorga, the ambassador to the United States.
• Jose „Joe“ Esparza (Texas Deputy Secretary of State) and Milena Mayorga discussed the opening of a bitcoin embassy and expansion of commercial and economic exchange projects.
• Ted Cruz, an American politician serving as the junior US senator for Texas, has praised Bitcoin’s decentralized nature and is critical of the possible creation of a digital dollar.
El Salvador Opens Second Bitcoin Embassy in Texas
El Salvador’s ambassador to the United States, Milena Mayorga, revealed plans to open a Bitcoin embassy in Texas during her meeting with Jose Esparza (Texas Deputy Secretary of State). This would be El Salvador’s second Bitcoin office after it opened one in Lugano, Switzerland.
Expansion of Commercial and Economic Exchange Projects
Mayorga stated that she and Esparza discussed the opening of a second Bitcoin embassy as well as expanding commercial and economic exchange projects between El Salvador and the region. In 2022, trade between El Salvador and Texas totaled $1.24 billion.
Texas: A Blockchain Hub
Due to friendly regulations towards cryptocurrencies and other blockchain technologies as well as its favorable climate conditions for mining activities, Texas has become an attractive hub for cryptocurrency businesses. Senator Ted Cruz has been vocal about his support for Bitcoin’s decentralizing power while being critical about creating a digital dollar.
Bill Introduced to Prevent Digital Dollar Creation
Last year, Senator Cruz introduced a bill that could forbid the Federal Reserve from launching any form of digital currency – potentially preventing further development on any central bank digital currencies (CBDC).
El Salvador continues to lead by example when it comes to embracing cryptocurrencies by expanding their presence into new parts of the world through their embassies initiatives. With supportive government officials such as Senator Ted Cruz backing these efforts, more countries are likely follow suit soon enough in this new age economy.