Close Menu
ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • ETH
  • Listing Platform
  • BSC
  • ETH
What's Hot

JPMorgan Chase CEO Warns Stock Market Witnessing ‘Extraordinary Amount of Complacency’ Amid Abrupt Recovery

May 21, 2025

Ether Set to Explode? ETH Traders Pump $7M Into Bullish Bets Targeting $6K Price by Year-End

May 21, 2025

Analyst Calls Pi Network ‘Biggest Rug of 2025’ After Token Dump

May 21, 2025
X (Twitter) Telegram
  • Listing Platform
  • Home
  • BSC
  • ETH
Advertise
X (Twitter) Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    JPMorgan Chase CEO Warns Stock Market Witnessing ‘Extraordinary Amount of Complacency’ Amid Abrupt Recovery

    May 21, 2025

    Ether Set to Explode? ETH Traders Pump $7M Into Bullish Bets Targeting $6K Price by Year-End

    May 21, 2025

    Analyst Calls Pi Network ‘Biggest Rug of 2025’ After Token Dump

    May 21, 2025

    Blackstone buys $1M worth of Bitcoin ETF in first crypto bet

    May 21, 2025

    Blackstone buys $1M worth of Bitcoin ETF in first crypto bet

    May 21, 2025

    KindlyMD shareholders OK merger with Trump-linked Bitcoin firm

    May 21, 2025

    NYC Mayor Eric Adams launches crypto advisory council

    May 21, 2025

    Strive targets 75,000 Bitcoin from Mt. Gox claims to build Bitcoin treasury

    May 21, 2025

    Ethereum price gained 90% the last time this indicator turned bullish

    May 20, 2025

    Whale Holding $2,190,000,000 in Bitcoin Withdraws More BTC From Binance in Accumulation Spree: Lookonchain

    May 20, 2025

    Price predictions 5/19: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI

    May 19, 2025

    Hoskinson promises audit, is ‘deeply hurt’ by $600M Cardano treasury claims

    May 19, 2025

    ‘Hawk tuah girl’ Haliey Welch says FBI probed her ‘memecoin disaster’

    May 21, 2025

    Quantum Biopharma adds to crypto holdings

    May 19, 2025

    Crypto.com, Canary launch CRO fund in US

    May 19, 2025

    Community sales are the future of crypto fundraising

    May 19, 2025

    JPMorgan Chase CEO Warns Stock Market Witnessing ‘Extraordinary Amount of Complacency’ Amid Abrupt Recovery

    May 21, 2025

    Ether Set to Explode? ETH Traders Pump $7M Into Bullish Bets Targeting $6K Price by Year-End

    May 21, 2025

    Analyst Calls Pi Network ‘Biggest Rug of 2025’ After Token Dump

    May 21, 2025

    Blackstone buys $1M worth of Bitcoin ETF in first crypto bet

    May 21, 2025
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Videos

    JPMorgan Is LYING To You About BITCOIN

    May 20, 2025

    Wall Street's Bitcoin Buying Frenzy: Is a Crypto Bull Run Coming?

    May 20, 2025

    SHOCKING Things Happening w/ Bitcoin Behind the Scenes (DON'T MISS)

    May 20, 2025

    Ripple vs. Coinbase: Circle Bidding War! Who Wins & Why It Matters?

    May 20, 2025

    Microstrategy SUED For LYING About Bitcoin

    May 20, 2025
ApeWatcher News
Home » Only 11% of El Salvador’s registered Bitcoin firms operational
Only 11% of El Salvador’s registered Bitcoin firms operational
Bitcoin

Only 11% of El Salvador’s registered Bitcoin firms operational

Coin TelegraphBy Coin TelegraphApril 15, 20250 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Only 20 of the 181 Bitcoin service providers registered with El Salvador’s central bank are operational, with the rest failing to meet the country’s requirements under its Bitcoin Law. 

Local media outlet El Mundo cited data from the Central Reserve Bank of El Salvador, showing that 11% of the service providers are operational. According to the central bank’s database, the rest of the providers are classified as non-operational. 

The data showed that at least 22 non-operational providers have failed to meet most of the country’s Bitcoin Law requirements, which mandate that providers implement stringent supervision of their financial systems. 

Most of El Salvador’s Bitcoin service providers are non-operational

El Salvador’s Bitcoin Law requires providers to maintain an Anti-Money Laundering (AML) program, keep records that accurately reflect the company’s assets, liabilities and equity and have a tailored cybersecurity program depending on the nature of its services. 

The data showed that 89% of the registered providers have failed to meet some of these obligations to be classified as operational. 

Still, a few firms have satisfied the legal criteria, including the state-backed Chivo Wallet and companies including Crypto Trading & Investment and Fintech Américas.

Related: Cathie Wood to kick off El Salvador’s AI public education program

El Salvador’s Bitcoin experiment

In 2021, El Salvador became the first country to accept Bitcoin as legal tender along with the US dollar. This move made Bitcoin integral to El Salvador President Nayib Bukele’s economic strategy. 

However, the Central American country recently signed a deal with the International Monetary Fund (IMF) on a $1.4 billion loan in exchange for rolling back some of its Bitcoin-related efforts. Under the agreement, taxes will be paid in US dollars and public institutions will limit their use of Bitcoin.

On March 3, the IMF asked the country to stop its public sector Bitcoin buys. Still, Bukele said the government will continue to purchase Bitcoin, seemingly contradicting its IMF deal.

The IMF deal prompted speculation about whether the country would rescind Bitcoin’s status as legal tender. John Dennehy, an El Salvador-based Bitcoin activist and educator, said in an X Space with Cointelegraph that a rollback law changing Bitcoin’s legal status is set to take effect on April 30.

Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Blackstone buys $1M worth of Bitcoin ETF in first crypto bet

May 21, 2025

KindlyMD shareholders OK merger with Trump-linked Bitcoin firm

May 21, 2025

NYC Mayor Eric Adams launches crypto advisory council

May 21, 2025

Strive targets 75,000 Bitcoin from Mt. Gox claims to build Bitcoin treasury

May 21, 2025

Bitcoin open interest hits record high as bulls stampede toward new BTC price highs

May 20, 2025

Robinhood Presses SEC for Clarity on Tokenizing RWAs in Bid for On-Chain Stock Trading: Report

May 20, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Articles

JPMorgan Chase CEO Warns Stock Market Witnessing ‘Extraordinary Amount of Complacency’ Amid Abrupt Recovery

May 21, 2025

Ether Set to Explode? ETH Traders Pump $7M Into Bullish Bets Targeting $6K Price by Year-End

May 21, 2025

Analyst Calls Pi Network ‘Biggest Rug of 2025’ After Token Dump

May 21, 2025
ApeWatcher News
X (Twitter) Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2025 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.