El Salvador Could Regulate the Issuance of Digital Assets

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El Salvador‘s authorities have started to consider a bill that has been designed to introduce into the legal field the procedure for interaction with providers and issuers of virtual asset services.

The regulation affects operations not only with Bitcoin, but also with other cryptocurrencies. In addition, it also deals with tax policy and introduces the legal definition of stablecoins and tokens.

The project, which provides for the creation of a register of companies, is now being studied in the economy committee of the country’s Legislative Assembly.

The bill would introduce a registration procedure and be required to provide a list of assets. Issuers will be required to comply with a series of rules, including disclosure of information about the jurisdictions in which they operate.

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