El Salvador's new Investment Banking Law allows private investment banks to provide fiat and foreign currency trading services for 'mature investors.'

The new Investment Banking Law in El Salvador allows private investment banks to provide fiat and foreign currency trading services for 'mature investors.' According to Juan Carlos Reyes, the chairman of the El Salvador Digital Assets Commission (CNAD), the government’s cryptocurrency regulatory body, investment banks will now be allowed to hold BTC and other digital assets on their balance sheets and offer cryptocurrency services to 'mature' investors (equivalent to qualified investors in the U.S.). He added that the new Investment Banking Law allows private investment banks to provide fiat and foreign currency trading services for 'mature investors' and permits them to hold a Digital Asset Service Provider (PSAD) license to engage in businesses involving digital assets like Bitcoin. Banks holding a PSAD license can choose to operate entirely as Bitcoin banks.