Pro-crypto city of Lugano and El Salvador sign economic agreement based on adoption
Cointelegraph
Published Oct 28, 2022 01:15PM ET
Updated Oct 29, 2022 03:20PM ET
Switzerland’s southern city of Lugano and El Salvador have signed an economic cooperation agreement based on crypto and blockchain.
According to an Oct. 28 announcement from Lugano, the two pro-crypto jurisdictions signed a memorandum of understanding on economic cooperation at the city’s Plan B event. Lugano Mayor Michele Foletti cited El Salvador adopting Bitcoin (BTC) as legal tender as part of the city’s interest in the agreement, which will allow the pro-crypto country to establish a physical government presence in an effort to “foster cooperation with educational and research institutions.”
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Written By: Cointelegraph
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