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Regulated bitcoin (BTC) Investment banks come to Salvador, after Thursday’s approval of the Salvador Investment Banking Act, which classifies investment banks under various regulations than Komerční banka.
Investment banks will now be able to hold BTC and other digital assets on their balance sheet and offer crypto services to “sophisticated” investors, equivalent to accredited investors in the United States, Juan Carlos Reyes, President of the El Salvador digital assets. He added:
“The New Investment Banking Act allows private investment banks to operate in legal and foreign currencies for“ sophisticated investors ”and to participate in digital assets such as Bitcoins, with the license of digital assets (PSAD) services. With the PSAD license, the bank could decide to function completely like a bitcoin bank. ”
The law supports foreign investment in Salvador and will build it as an emerging center for finance, supporters of the newly adopted law say.
https://www.youtube.com/watch?v=Iel3hdesf24
Institutional investors were the main driving force Crypt.Because the Central American country attracts crypto teasses and financial companies with its pro-crito regulatory climate.
But critics say that the acceptance of the BTC in the country and regulatory policies are does not help an average person And especially the benefits of government and large businesses.
Related: Salvador has not bought bitcoins since the signing of the loan agreement, says IMF
El Salvador creates an international partnership to increase crypto growth
President Salvador, Nayibf buckle, scent of a white basket.Pakistani State Minister of Krypto and Blockchain to share strategies for the adoption of bitcoins on the nation -state and energy policy to support crypto mining.
“Cooperation is basically based on how the developing economies that are in the IMF program can use technology and other financial tools for national growth,” bin Saqib bin saqib said Cointlegraph in an interview.
July 30. The Bolivia Central Bank Signed a memorandum of understanding With CNAD to support the use of cryptocurrencies as an alternative to traditional fiat curls.
The agreement It came in the middle of the currency crisis in Bolivia, where US dollars are rare and difficult to obtain international trade.
This has led to the growing use of stablecoins denominated on the US dollar as a medium of exchange, according to Smoking CEO Paolo Ardoino.
Magazine: National Bitcoin chief Salvador was an orange pressure of Argentina
