According to the head of the Commission on Digital Assets (CNAD) Juan Carlos Reyes (Juan Carlos Reyes), financial institutions with capital of at least $ 50 million can now receive the status of an investment bank – separately from a license of a conventional commercial bank.
The authorities of the South American country will allow investment banks to apply for a license that allows us to offer customer investors with liquid assets of more than $ 250,000 cryptocurrency financial instruments, including bitcoin.
“The institutional architecture of the Salvador financial system will be expanded as a new, but regulated and controlled, expanding the traditional banking system, which we all know,” said Dania González, deputy of the country’s parliament.
The government hopes that the new law will increase the investment attractiveness of Salvador as a regional crypto -financial center and will strengthen the influx of investment funds.
Earlier, the International Monetary Fund said that he would make efforts to preserve the reached the volume of the first cryptocurrency on the balance sheet of the Salvador government and stop the BTC purchase.
Source: Bits
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