• February 2024 is the scheduled date of the next general election.
  • In September 2021, Bukele lobbied for the adoption of Bitcoin as legal cash in El Salvador.

Nayib Bukele, the president of El Salvador, has resigned from office to run for office again. He was the driving force behind the bill that made Bitcoin legal money in El Salvador.

After receiving the green light from El Salvador’s legislative assembly, Bukele stepped down as president on December 1st. He will now be able to devote his time and energy to running for re-election in 2024. Claudia Rodríguez de Guevara, who is anticipated to hold the position until June 2024, took over as president after him. February 2024 is the scheduled date of the next general election.

Banking on Bitcoin

El Salvador had one of the world’s highest rates of homicide before Bukele assumed office in June 2019, and he gained notoriety for his pro-crypto policies and his efforts to lower the number. In September 2021, he lobbied for the adoption of Bitcoin as legal cash by the Salvadoran government and the development of a ‘Bitcoin City’ powered by a volcano in the nation.

Despite a marked decline in homicides under Bukele’s watch, many have accused El Salvador of breaking human rights rules in its fight against gangs. The government has instituted “mass detentions” since 2022, according to a March report by the UN human rights office, and several individuals have been abused or killed while in jail.

El Salvador’s president is elected to a five-year term. The constitutionally mandated waiting period for presidents to seek re-election was 10 years prior to September 2021. But at that time, the Supreme Court of El Salvador decided that a president might serve two consecutive terms in office.

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