El Salvador has passed a new law to regulate artificial intelligence, aiming to boost its adoption and attract talents. The move was announced by the Bitcoin Office, noting that it aligns with President Nayib Bukele’s economic liberty policy.
The announcement focuses on open-source and proprietary systems, with the law focusing on addressing open-source development. “This new legislative framework aims to ensure that both proprietary and open-source AI systems are afforded appropriate protections, with a particular emphasis on safeguarding open-source development — a pioneering step in global AI policy,” the statement reads.
According to the statement, the proprietary models enjoy international protections and the new law will extend the privilege to the open-source models. The country is looking to attract foreign investors, with the new law expected to boost attractiveness in the sector.
El Salvador earns praise for innovation adoption
The recent news out of El Salvador has earned the country praise from various quarters, with most of it coming from thought experts and industry leaders. Sortium founder Marc Seal hailed the forward-thinking process. “The passing of this legislation by the President and the Assembly cements El Salvador as a haven of innovation,” he said.
The country has been making strides in the industry to attract investors, with the president in a meeting with Microstrategy CEO Michael Saylor recently.
Meanwhile, the country has continued to accumulate Bitcoin despite the asset seeing a steady decline over the last few days. Bukele has also remained unshaken, taking a slight dig at detractors questioning his choice of Bitcoin investment in a market downturn. The comments were coming as a result of the country’s gap in Bitcoin purchase despite noting that it will buy one BTC per day last year.