Regulated Bitcoin (BTC) Investment banks will come to El Salvador after approval of the investment banking law on Thursday, which has different regulations on investment banks than commercial banks.
Now, investment banks will be allowed to hold BTC and other digital assets on their balance sheets and provide crypto services to “mature” investors, equivalent to U.S.-accredited investors, Juan Carlos Reyes, president of the Digital Assets Commission (CNAD), the government’s crypto regulator, Cointelegraph. He added:
“The new investment banking law allows private investment banks to operate in fiat currencies and foreign currencies of ‘complex investors’ and engage in digital assets like Bitcoin through a digital asset service provider (PSAD). Through the PSAD license, banks can choose to operate as Bitcoin banks entirely.”
The law encourages foreign investment in El Salvador and positions it as an emerging hub for emerging laws explain.
Institutional investors have always been basement.as Central American countries attract cryptocurrency companies and financial companies through their pro-Crypto regulation climate.
However, critics say the country’s BTC adoption and regulatory policies are Don’t help ordinary people Mainly benefiting the government and large enterprises.
Related: The International Monetary Fund says
El Salvador builds international partnership to drive cryptocurrency growth
President of El Salvador Nayibf buckle, smells Billal bin.Minister of State Crypto and Blockchain of Pakistan, shares strategies on national Bitcoin adoption and energy policy for promoting cryptocurrency mining.
“The cooperation is basically based on how emerging economies under the IMF program use technology and other financial tools to achieve national growth,” Bin Saqib Tell Cointelegraph in an interview.
Central Bank of Bolivia on July 30 Signed a memorandum of understanding Together with CNAD, promote the use of cryptocurrencies as an alternative to traditional fiat currencies.
this protocol In Bolivia’s currency crisis, the dollar was scarce and difficult to obtain, making international trade difficult.
This leads to the use of stabilizers dominated by US values as a medium of exchange, according to Bond CEO Paolo Ardoino.
Magazine: El Salvador’s Bitcoin Head has been in the Orange Argentina
