El Salvador’s big crypto move The law applies to

El Salvador’s big crypto move

The law applies to investment banking institutions. They will serve only “sophisticated investors”, defined as individuals or entities with at least $250,000 in liquid assets and extensive market experience.

Naturally, the framework sets investment banks apart from traditional commercial banks.

They can operate in both legal tender and foreign currencies, handle complex financing for sectors such as infrastructure, energy, and technology, and secure a Digital Asset Service Provider license to go fully Bitcoin-native.

Juan Carlos Reyes, President of El Salvador’s Commission of Digital Assets (CNAD), said,

“With a Digital Asset Service Provider (PSAD) license, a bank could choose to operate entirely as a Bitcoin bank.”

With fresh partnerships with nations like Pakistan and Bolivia, the country is moving forward to become a global crypto hub.