Good morning! Begin your day with five key overnight stories from around the world.
A newspaper vendor shows the front page of a state-run newspaper carrying the headline “Bitcoin Day” in San Salvador, El Salvador, Tuesday, Sept. 7, 2021. (AP Photo/Salvador Melendez)
Here is a round-up of the top developments around the world today.
El Salvador plans world’s first ‘Bitcoin City’
El Salvador plans to build the world’s first “Bitcoin City”, funded initially by bitcoin-backed bonds, President Nayib Bukele said on Saturday. The city will be planned in the eastern region of La Union and would get geothermal power from a volcano and not levy any taxes except for value added tax (VAT).
“Invest here and make all the money you want,” Bukele said.wearing a reversed baseball cap, in the beach resort of Mizata. “This is a fully ecological city that works and is energized by a volcano.”Half of the VAT levied would be used to fund the bonds issued to build the city, and the other half would pay for services such as garbage collection, Bukele said, estimating the public infrastructure would cost around 300,000 bitcoins.
An SUV plowed into a Christmas parade in the Milwaukee suburb of Waukesha on Sunday killing some people and injuring more than 20 people