El Salvador's President Bukele has signed into law the Innovation and Technology Manufacturing Incentives Act, which eliminates all taxes, including income tax, capital gains tax, import tariffs, and property tax on technology innovations such as software programming, app development, AI, computer, and communication hardware manufacturing. The move is set to attract tech companies and Bitcoiners to the country and fulfills El Salvador's aim to become a financial hub in Latin America. Meanwhile, the US administration has proposed the Digital Asset Mining Energy (DAME) tax, which could result in the loss of jobs and economic growth if it is passed, according to industry experts.