How can the new Salvador law make Bitcoin banks a reality! star-news.press/wp

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The new investment banking services law of El Salvador allows banks subject to regulation to retain captains and provide encryption services to accredited investors. With the growing global interest, the country places itself as a center for financing for rising encryption.

The Legislative Association of El Salvador doubles on Bitcoin (BTC).

Newly approved Investment banking law Organized investment banks will allow Bitcoin contract and provide encryption services to accredited investors. This will be a big step forward to attract foreign capital and help increase the country’s position as an emerging global encoding center.

Silvador move the great encryption

The law applies to investment banking institutions. They will only serve “advanced investors”, they are known as individuals or entities with at least $ 250,000 of liquid assets and extensive experience in the market.

Of course, the frame is distinguished by investment banks from traditional commercial banks.

They can work in both legal and foreign bids, deal with complex financing for sectors such as infrastructure, energy and technology, and securing a license for digital asset service provider to go to Bitcoin entirely.

Juan Carlos Reyes, Chairman of the Digital Assets Committee in El Salvador (CNAD) said,

“Thanks to the license of the Digital Asset Service (PSAD), the bank can choose full work as a bitcoin bank.”

With new partnerships with countries such as Pakistan and Bolivia, the country is moving forward to become a global encoding center.

Bitcoin banks, closer to reality now

The new investment banking law comes a few days after the Salvadian government revealed plans to establish it Bitcoin banks.

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The proposal, which is supervised by the National Bitcoin Office, provides to operate private investment banks in both Bitcoin and the US dollar. They will provide deposits, loans and other financial services.

With the minimum minimum capital and an allowance for foreign property, hope is that the initiative attracts global investors and support the economic policy that focuses on bitcoin in El Salvador.

The global capital is watching

The transformation of politics in El Salvador as an institutional interest in Bitcoin It accelerates abroad.

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In fact, it now offers thirteen of the 25 largest American banks – including JPMorgan, Citigroup and Goldman Sachs – or explore Bitcoin Trading.

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At the same time, the 100 best public companies in the world with bitcoin bonds Collectively hold nearly a million BTC!

However, the El Salvador batch to allow investment banks in Bitcoin places it to take advantage of the growing institutional market liquidity.