Bitcoin investment banks coming to El Salvador — Gov regulator
Main Idea
El Salvador has approved an Investment Banking Law allowing regulated Bitcoin investment banks to operate, aiming to attract foreign investment and institutional crypto-focused financial firms.
Key Points
1. El Salvador's Investment Banking Law permits private investment banks to operate with a PSAD license, enabling them to function entirely as Bitcoin banks.
2. The law is designed to encourage foreign investment and institutional participation in El Salvador's pro-crypto regulatory environment.
3. Bolivia's central bank signed an agreement with El Salvador's CNAD to promote cryptocurrency use, particularly US-dollar-denominated stablecoins, as a medium of exchange.
Description
The new law will allow investment banks, which can underwrite companies, issue securities, and are institutionally focused, to hold BTC.
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