How El Salvador’s new law could make Bitcoin banks a reality!
Main Idea
El Salvador's new Investment Banking Law enables regulated banks to hold Bitcoin, advancing the country's goal of becoming a global crypto hub and paving the way for Bitcoin banks.
Key Points
1. El Salvador's Investment Banking Law allows regulated investment banks to hold Bitcoin and operate with a Digital Asset Service Provider (PSAD) license.
2. The law sets a $50 million minimum capital requirement and permits foreign support, distinguishing investment banks from traditional ones.
3. The move aligns with El Salvador's broader Bitcoin-focused economic policy and aims to establish Bitcoin banks under the National Bitcoin Office.
4. Global institutional interest in Bitcoin is growing, with major U.S. banks like JPMorgan and Goldman Sachs exploring Bitcoin custody services.
5. The world's Top 100 public companies with Bitcoin treasuries collectively hold nearly one million BTC, highlighting increasing market liquidity.
Description
Backed by bold legislation and a $50 million entry bar, Bitcoin banking is officially on the table.
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