El Salvador grants Bitfinex his first crypto license

El Salvador grants Bitfinex his first crypto license
Bitfinex was the first cryptocurrency exchange that was registered by the supervisory authorities of El Salvador as a digital asset service provider (DASP).
The Latin American country is a pioneer in the industry and introduced Bitcoin as a legal means of payment in 2021. Under the rule of President Nayib Bukele, it bought it at macroeconomic levels of the primary cryptocurrency and started numerous BTC-related initiatives.
"pleased to be the first"
In a recent Blog entry described the approval received by the National Digital Asset Commission as a milestone in its long-term Strategy, "communities and countries all over the world to offer financial freedom and inclusion".
Paolo Ardoinino-CTO of the platform-said that the company was "pleased" to be the first company with such a license. "Bitfinex Securities will enable Bitfinex Securities to facilitate the output and secondary trade of assets with clearly defined rights and obligations, as they are defined in the new regulatory system for digital assets," he said.
The registration will also enable companies (from small companies to governments) to procure capital and interact with investors who deal with the investment class.
Jesse Knutson-operations manager at Bitfinex Securities-said the demand for products that fall under the new regulations, such as: B. token shares and profitable assets have risen sharply lately.
"Emitters are excited about access to the market for digital assets, attracted to the speed, cost efficiency and lightness of emission compared to conventional assets. The market for digital assets is a market that is still in its obesity with a size of over 1 trillion US dollar, but is growing extremely quickly" he added.
El Salvador's latest regulatory framework for cryptocurrencies-the Digital Asset Issuance Law-saw the light of day in January 2023 after the National Congress received the green light. Their main goal is to support financial innovations and the region's economic growth.
Planning the country's authorities to build on this legislation by regulating the business activities of private investors and institutional investors.
El Salvador: The land of Bitcoin
The small Central American nation, which was previously called for the world of murder of the world, made headlines explain Bitcoin on its territory.
The government under the leadership of President Bukele initiated several projects in connection with the leading digital asset, such as: B. the accumulation of BTC on macroeconomic level, building a huge animal hospital in which patient can use the asset as a payment method, and Design a high-tech city.
The so-called "Bitcoin City" will be near the Concchaagua and Tecapa volcano and use their geothermal energy to drive itself. Unnecessary to say that BTC will be the main currency, while the design of the city area will have the shape of a circle, so that it could represent the Coinvon above the logo of.
bukele recently preserver-spaces = "true"> the main reasons for El Salvadors increased level of tourism and its festival Legacy:
"We have increased tourism by 95 %, and this is partly due to Bitcoin. There are many bitcoiners who want to go into the country in which Bitcoin is legal, we have Bitcoin conferences."
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