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posted 2 weeks ago
In recent years, El Salvador has become one of the pioneers in cryptocurrency regulation. The government’s progressive stance on cryptocurrencies is illustrated in particular by the adoption of the Digital Asset Issuance Law (DAI Law) on January 11, 2023, which has made El Salvador one of the most preferred jurisdictions in the world to operate as a Digital assets service provider (“DASP”).
An additional reason for DASP registration in El Salvador is the pending entry into force of MICA in Europe, where stricter requirements for authorized capital and operations of cryptocurrency companies will be introduced.
Below we look at the key steps in the process of obtaining a crypto license in El Salvador and the important aspects to consider for effective cryptocurrency transactions in the country.
The following cryptocurrencies are available in El Salvador:
To obtain a crypto license in El Salvador, a company must meet the following requirements:
The turnkey cryptolicense in El Salvador can take anywhere from 3 to 6 months depending on the services planned and the company’s business plan.
At the end of the process of obtaining a crypto license in El Salvador, you will have a fully operational company authorized to provide cryptocurrency exchange and cryptocurrency storage services.
Despite the relatively new status of cryptocurrency regulation in El Salvador, obtaining a license provides ample opportunity for business development in this area. SBSB Fintech Lawyer has a high level of expertise in financial regulation and international law and will be happy to help you turn your business ideas into reality. We have been specializing in supporting FinTech and Crypto projects since 2013, providing tailored solutions for each client considering the company’s business model. Our lawyers will help you choose the most suitable type of license and prepare the necessary documents for legalizing crypto business and obtaining a cryptocurrency license in in El Salvador accordance with the legislation, providing full legal support.
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