Only 11 % of Bitcoin companies registered in El Salvador operation
Only 20 out of 181 Bitcoin service providers registered with the Central Bank of Salvador, with the rest to meet the country’s requirements under Bitcoin.
Local media Mondo quote Data from the Central Reserve Bank of El Salvador, which indicates that 11 % of service providers work. According to the central bank database, the rest of the service providers are classified as impractical.
The data showed that at least 22 non -practical introductions failed to meet most of the country Bitcoin law requirementsAnd, which states that service providers carry out strict supervision of their financial systems.
Most Bitcoin service providers in El Salvador are impractical
Bitcoin Law in El Salvador requires service providers to maintain the anti -money laundering program (AML), and maintains records that accurately reflect the company’s assets, opponents, stock rights and have a cyber security program designed depending on the nature of its services.
Data showed that 89 % of registered service providers failed to meet some of these obligations to classify them as operational.
However, a few companies have met the legal standards, including the Chivo Wallet and the state -backed companies including Crypto Trading & Investment and Fintech Américas.
Related to: Cathy Wood to start the general education program from artificial intelligence Al Salvador
Bitcoin experience in El Salvador
In 2021, El Salvador became the first country Bitcoin accepting as a legal tender Along with the US dollar. This step made Bitcoin an integral part of the economic strategy of President El Salvador Nayeb.
However, the country of Central America recently A deal signed With the International Monetary Fund (IMF) on a loan of $ 1.4 billion in exchange for some of its bitcoin efforts. Under the agreement, taxes will be paid in US dollars, and public institutions will limit their use of Bitcoin.
On March 3, the International Monetary Fund asked the country Stop bitcoin purchases in its public sector. However, the agent said that the government will do Continue buy bitcoinIt seems contradictory to the International Monetary Fund deal.
The International Monetary Fund deal prompted speculation about whether the country would work Bitcoin’s abolition as a legal tender. John Danahi, an activist and teacher in Bitcoin in El Salvador, said in the x space with Cointelegraph that the decline law that changes the legal status of Bitcoin to become valid on April 30.
https://www.youtube.com/watch?
magazine: Mechanin is deviated from a pioneering anti -aging research
https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2025-04/019638ad-e242-78f2-86b5-29d82b4c5f7b
