El Salvador allows investment banks to hold Bitcoin and can provide encryption services to mature investors.

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[Chain News] PANews, August 10, reports that Juan Carlos Reyes, the chairman of the El Salvador Digital Assets Commission (CNAD), stated that investment banks are now allowed to hold Bitcoin and other digital assets on their balance sheets and provide Crypto Assets services to "mature" investors (equivalent to accredited investors in the United States). CNAD is the cryptocurrency regulatory agency of the El Salvador government.

"The new Investment Banking Law allows private investment banks to provide services to 'mature investors' in legal tender and foreign currencies, and permits them to hold digital asset service provider (PSAD) licenses to engage in businesses involving digital assets such as Bitcoin. Banks holding a PSAD license can choose to operate entirely as Bitcoin banks."

Supporters of the new law state that it encourages foreign investment in El Salvador and positions it as an emerging financial center.

Previously, it was reported that El Salvador plans to establish the world's first Bitcoin bank.

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FlashLoanLordvip
· 08-10 08:21
btc is about to big pump again
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TokenRationEatervip
· 08-10 01:58
We have already entered the BTC banking era.
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RugPullAlarmvip
· 08-10 01:54
Hehe, another high-risk Money Laundering zone has emerged, on-chain data speaks.
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TokenCreatorOPvip
· 08-10 01:38
The time for making big money in the crypto world has come.
View OriginalReply0
PaperHandSistervip
· 08-10 01:33
The BTC sisters are going to get rich again.
View OriginalReply0
BottomMisservip
· 08-10 01:29
The bull has struck it rich now!
View OriginalReply0
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