BlockBeats news, on August 10, Juan Carlos Reyes, the chairman of the Salvadoran Digital Assets Commission (CNAD), confirmed that El Salvador has passed the Investment Banking Law, allowing licensed investment banks to hold digital assets like Bitcoin and provide cryptocurrency services to qualified investors.
The law stipulates that investment banks can apply for a digital asset service provider (PSAD) license and may even operate under a pure Bitcoin banking model. The government claims that this move will help attract foreign investment and strengthen its position as a financial innovation hub, but critics argue that the current cryptocurrency policies benefit institutions more than the general public.
