El Salvador Bitcoin-Friendly Nayib Bukele To Stay In Power Indefinitely

El Salvador’s ruling party has made a major political shift. El Salvador’s ruling party has approved a big change to the constitution. This new rule could allow President Nayib Bukele to stay in office for as many terms as he wants, provided he continues to get elected. The decision was made quickly and is already causing strong reactions both in El Salvador and around the world. This is especially given Bukele’s close ties to the country’s bold Bitcoin (BTC) strategy. El Salvador Opens the Door to Indefinite Presidencies On Thursday, lawmakers from Bukele’s New Ideas party passed five major constitutional changes with a 57-3 vote. The new rules allow a president to run for office as many times as they want. The ruling political leaders also changed the presidential term from 5 years to 6 and removed the need for a second round of voting. These changes were passed quickly, with little public discussion. Some people are worried that this hurts democracy and transparency. Ana Figueroa, a lawmaker who proposed the bill, defended the reforms as a way to give voters more direct power over who governs them. She argued that citizens should decide how long a president or elected official stays in office. President Bukele Builds a Bitcoin Legacy President Bukele began his second term on June 1, 2024. During his time in office, he has gained international attention for adopting Bitcoin as legal tender in 2021. Since then, El Salvador has continued to purchase more of the top cryptocurrency and now owns approximately 6,246 BTC, despite pressure from global financial groups. People who support the new law think Bukele’s leadership could help grow the country’s economy, especially through digital and crypto projects. They argue that his unique approach has brought international attention and innovation to the government. Recently, Bolivia’s Central Bank (BCB) partnered with El Salvador’s National Commission of Digital Assets (CNAD). They planned to work together to improve rules for digital assets and develop blockchain technology. Although Bukele has not confirmed whether he will run again, this legal pathway still gives him, or any future president, the option to remain in power indefinitely, as long as they are elected. Critics Say Democracy Is in Danger in El Salvador Not everyone agrees with the changes. Some people believe the new rules weaken democracy and give too much power to one person. Marcela Villatoro, a lawmaker from the opposition Republican National Alliance (ARENA), strongly criticized the decision. He called it a blow to the country’s democratic foundations. Human rights groups also raised an alarm. Noah Bullock, executive director of Cristosal, condemned the process used to pass the reforms. He noted that it was done quickly, without public awareness or meaningful debate. He warned that El Salvador is starting to look like countries with dictators, where leaders change the laws to stay in power, and there are no firm limits to stop them. The post El Salvador Bitcoin-Friendly Nayib Bukele To Stay In Power Indefinitely appeared first on TheCoinrise.com .

Source: The Coin Rise