Salvador | Crypto

The new law will allow investment banks, which can underwrite companies, issue securities, and are institutionally focused, to hold BTC. Regulated Bitcoin (BTC) investment banks are coming to El Salvador, following Thursday’s approval of El Salvador’s Investment Banking Law, which classifies investment banks under different regulations than commercial banks. Investment banks will now be allowed to hold BTC and other digital assets on their balance sheets and offer crypto services to “sophisticated” investors, the equivalent of accredited investors in the United States, Juan Carlos Reyes, president of El Salvador’s Commission of Digital Assets (CNAD), the government’s crypto regulatory agency, told Cointelegraph. He added: The law encourages foreign investment in El Salvador and positions it as an emerging hub for finance, proponents of the newly adopted law say.  Read more

El Salvador’s Bitcoin experiment appears to be faltering under the weight of an IMF loan agreement and declining public engagement. The post El Salvador’s Bitcoin Strategy Faces IMF Hurdles and Limited Public Reach, Says NGO appeared first on Cryptonews.

Changes to El Salvador's Bitcoin laws under the IMF agreement put the benefits of BTC even further out of reach for the average resident. El Salvador’s Bitcoin (BTC) reserve has had limited impact on the broader population, and the country’s loan agreement with the International Monetary Fund (IMF) may further complicate its Bitcoin strategy, according to Quentin Ehrenmann, general manager at My First Bitcoin, a non-governmental organization (NGO) focused on Bitcoin adoption. Ehrenmann told Reuters that repealing the Bitcoin legal tender laws under the IMF agreement has created a vacuum in public BTC education or state-led adoption initiatives. In a translated statement, he told the news outlet: The Central American country also agreed not to purchase any new BTC under the agreement, a detail that was confirmed in a recent IMF report, which contradicted claims by El Salvador’s Bitcoin Office that the country is accumulating BTC daily. Read more

The IMF report directly contradicts regular posts from El Salvador’s Bitcoin Office that the country is purchasing one BTC per day. The International Monetary Fund (IMF) published a report on Tuesday about its ongoing loan agreement with El Salvador, claiming that the Central American country has not bought any new Bitcoin (BTC) since signing the agreement in December 2024. El Salvador’s Chivo Bitcoin wallet “does not adjust its Bitcoin reserves to reflect changes in clients’ Bitcoin deposits,” the report read. Chivo doesn’t sell its BTC, leading to “minor” discrepancies that made it appear as if El Salvador’s public sector was accumulating BTC.  A letter of intent signed by El Salvador’s central bank president, Douglas Pablo Rodríguez Fuentes, and minister of finance, Jerson Rogelio Posada Molina, contained within the IMF report, confirmed the details: Read more

A July 15 report by the International Monetary Fund (IMF) suggests that El Salvador’s growing Bitcoin holdings are not the result of recent purchases, but rather a reorganization of existing assets. According to a footnote in the document: “Increases in [El Salvador’s] Bitcoin holdings in the Strategic Bitcoin Reserve Fund reflect the consolidation of Bitcoin […] The post IMF claims El Salvador is NOT buying Bitcoin but simply moving coins between wallets appeared first on CryptoSlate.

Pakistan and El Salvador have formalized diplomatic relations for the first time, anchoring the partnership on crypto collaboration and digital asset development, according to a July 16 announcement. The presser followed a meeting in San Salvador between Bilal Bin Saqib, special assistant to Pakistan’s prime minister on crypto and blockchain, and El Salvador’s President Nayib […] The post El Salvador, Pakistan inaugurate diplomatic relations to collaborate on digital assets appeared first on CryptoSlate.

Sovereign Bitcoin reserves may become a long-term strategy for nations as El Salvador’s gains show multi-year value, Decrypt was told.

A group of US Democratic senators has introduced a new bill to sanction El Salvador’s President Nayib Bukele and members of his administration. The legislation, titled the El Salvador Accountability Act (S.2058), was put forward by Senators Chris Van Hollen, Tim Kaine, and Alex Padilla. If passed, the bill would require President Donald Trump to […] The post US senators seek sanctions on El Salvador’s Nayib Bukele over Bitcoin misuse and human rights violations appeared first on CryptoSlate.

The Central American country has continued its daily Bitcoin investments despite a non-accumulation deal struck with the IMF in December 2024. El Salvador, the world’s first country to adopt Bitcoin as legal tender, has continued buying the cryptocurrency despite a $1.4 billion loan agreement with the International Monetary Fund (IMF) that included provisions discouraging further accumulation. The government’s treasury wallet currently holds 6,209 Bitcoin (BTC), having added 240 BTC since Dec. 19, 2024, after the IMF deal was announced, according to data from El Salvador’s Bitcoin Office. In December, El Salvador struck a deal with the IMF for a $1.4 billion loan, which required the government to drop Bitcoin’s status as a legal tender and stop its public BTC accumulation. Read more

"Extraordinary things" could happen for the United States and El Salvador as a result of the meeting, said Salvadoran Bitcoin Office Director Stacy Herbert.

The International Monetary Fund (IMF) has again called on El Salvador to keep its Bitcoin holdings unchanged. In a statement released on May 27, the IMF said government-owned wallets must not increase their BTC reserves and also urged the country to fully exit its role in the Chivo wallet by the end of July. According […] The post El Salvador continues to resists IMF pressure to halt Bitcoin accumulation appeared first on CryptoSlate.

High-net-worth investors can now gain Salvadoran passports via a $1M crypto donation—fast-tracked in under six weeks through the Freedom Passport. The post CitizenX Joins Forces With El Salvador to Expand Bitcoin-Backed Passport Initiative appeared first on Cryptonews.

El Salvador holds the sixth-largest sovereign Bitcoin reserve as its crypto portfolio now exceeds $644 million.

El Salvador now holds 6,181 BTC worth $644M, up $137M in a month, ranking just behind the U.S., China, U.K., Ukraine, and Bhutan.

The mayor of Panama City seemingly advocated for a city-level Bitcoin reserve in a mysterious post after meeting two of El Salvador’s Bitcoin policy leaders this week. Panama City Mayor Mayer Mizrachi has hinted at establishing a city-level Bitcoin reserve in a cryptic post following his meeting with two of El Salvador’s Bitcoin policy leaders. “Bitcoin Reserve,” Mizrachi wrote to X on May 16 after meeting El Salvador-based Bitcoiners Max Keiser and Stacy Herbert. While Mizrachi didn’t share details about his discussions with Keiser and Herbert, the timing of the post came 11 days before the Bitcoin 2025 conference in Las Vegas, where Mizrachi is scheduled to speak. Read more

Panama City Mayor Mayer Mizrachi stirred speculation about a possible Bitcoin reserve after a cryptic post on his official X account on May 16. In the post, Mizrachi wrote: “Bitcoin reserve.” The cryptic post followed his meeting with Max Keiser and Stacy Herbert, two of the key architects behind El Salvador’s Bitcoin policy. Keiser currently […] The post Panama City mayor hints at Bitcoin reserve following meeting with El Salvador advisors appeared first on CryptoSlate.

The country continues to acquire more Bitcoin for its strategic reserve and has embraced technical innovation to fuel economic growth. The government of El Salvador continues stacking Bitcoin (BTC) for its national crypto reserve, despite an ongoing deal with the International Monetary Fund (IMF) stipulating that the Central American country stop using public funds to purchase Bitcoin as one of the conditions for a loan agreement. According to data from the El Salvador Bitcoin Office, the country acquired an additional seven BTC in the last seven days, bringing its total holdings to 6,173 BTC, valued at over $637 million. El Salvador's Bitcoin Office has continued its steady pace of Bitcoin acquisitions months after the IMF agreement was signed and shows no sign of halting its Bitcoin purchases. Read more