According to Art. 4, the Trust will be initially constituted with the resources transferred by the Ministry of Finance, up to the value of US$150 million, and this patrimony may be strengthened through the incorporation of other resources generated by the execution of the operations carried out during its existence.

The purpose of the proposed Ley de Fideicomiso Bitcoin is to financially support the alternatives provided by the State, without prejudice of private initiatives, which allow the user to carry out the automatic and instantaneous convertibility of bitcoin to US dollars, only in the State digital wallet.

The State Digital Wallet (Chivo Wallet): is a technological platform that will be specifically for: converting, storing, sending and receiving bitcoins, which will only be available until the Central Government announces it.

Bitcoin is a cryptocurrency that uses Blokchain technology, which from September 7 will be available in the app as a legal tender.

The Banco de Desarrollo de El Salvador (BANDESAL), will be in charge of the content of this law that will serve as Trustee of the Trust according to the Code of Commerce, likewise it may hire a third party as managing agent.

Furthermore, the Ministry of Finance shall be empowered to transfer the necessary and sufficient resources to the Trust, through BANDESAL, for the purpose of guaranteeing the automatic and instantaneous convertibility of Bitcoin to US dollars.

This transfer may be made by the total amount referred to in Art. 4 of this Law, or by means of partial transfers until completing the total amount of resources of its capital, or constituent patrimony.