El Salvador Approves Investment Banking Law Allowing BTC Holdings
According to Cointelegraph, El Salvador has passed an investment banking law allowing investment banks to hold BTC and other digital assets, and providing crypto services for 'mature' investors. The law encourages foreign investment and positions El Salvador as an emerging financial center.
Critics argue that the adoption of BTC and regulatory policies primarily benefit the government and large corporations, offering little help to ordinary people. El Salvador's President Bukele met with a Pakistani minister to share national-level BTC adoption strategies.
On July 30, the Central Bank of Bolivia signed a memorandum of understanding with El Salvador's Digital Assets Commission to promote cryptocurrency use in response to Bolivia's monetary crisis.