How El Salvador’s new law could make Bitcoin banks a reality!
The post How El Salvador’s new law could make Bitcoin banks a reality! appeared on BitcoinEthereumNews.com. Key Takeaways El Salvador’s new Investment Banking Law allows regulated banks to hold Bitcoin and offer crypto services to accredited investors. With growing global interest, the country is positioning itself as a rising crypto finance hub. El Salvador’s Legislative Assembly is doubling down on its Bitcoin [BTC] bet. A newly approved Investment Banking Law will let regulated investment banks hold Bitcoin and offer crypto services to accredited investors. This would be a big step forward to lure foreign capital and help further the country’s status as an emerging global crypto hub. 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. Bitcoin banks, closer to reality now The new Investment Banking Law comes just days after the Salvadorian government revealed plans to establish Bitcoin banks. Source: X The proposal, overseen by the National Bitcoin Office, allows private investment banks to operate in both Bitcoin and U.S. dollars. They’ll offer deposits, loans, and other financial services. With a $50 million minimum capital requirement and allowance for foreign ownership, the hope is that the initiative will attract global investors and support El…
The post How El Salvador’s new law could make Bitcoin banks a reality! appeared on BitcoinEthereumNews.com.
Key Takeaways El Salvador’s new Investment Banking Law allows regulated banks to hold Bitcoin and offer crypto services to accredited investors. With growing global interest, the country is positioning itself as a rising crypto finance hub. El Salvador’s Legislative Assembly is doubling down on its Bitcoin [BTC] bet. A newly approved Investment Banking Law will let regulated investment banks hold Bitcoin and offer crypto services to accredited investors. This would be a big step forward to lure foreign capital and help further the country’s status as an emerging global crypto hub. 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. Bitcoin banks, closer to reality now The new Investment Banking Law comes just days after the Salvadorian government revealed plans to establish Bitcoin banks. Source: X The proposal, overseen by the National Bitcoin Office, allows private investment banks to operate in both Bitcoin and U.S. dollars. They’ll offer deposits, loans, and other financial services. With a $50 million minimum capital requirement and allowance for foreign ownership, the hope is that the initiative will attract global investors and support El…
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