David – Cryptocurrency Expert
The newly established National Bitcoin Office (ONBTC) in El Salvador will be in charge of all activities regarding the first and biggest cryptocurrency – Bitcoin- as well as Bitcoin investment.
Within the president's office, the new agency will work as a specialised administrative division with functional and technical autonomy.
Conceptualizing and disseminating data on Bitcoin, blockchain, and cryptocurrencies in El Salvador "to the media and any interested person" is one of the entity's responsibilities.
The National Bitcoin Office, or ONBTC, will also support foreign Bitcoin, blockchain, and cryptocurrency companies and investors who want to do business and go to El Salvador. It will also actively encourage El Salvadoran participation in various international forums.
Additionally, ONBTC would be in charge of overseeing and evaluating each individual while contacting the president to set up meetings to introduce himself. Another responsibility of the Bitcoin Office is to coordinate efforts related to the development of appropriate Bitcoin and blockchain policies as established by the presidency.
The director of the Bitcoin Office will be chosen by the president of El Salvador, and he or she will have the power to select employees as necessary to carry out the institution's obligations.
El Salvador became the first nation in the world to adopt Bitcoin as payment last year. El Salvador's president, Bukele, stated last week that his country will start buying one Bitcoin (BTC) every day.
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