Regulatory Alerts2024-04-24 | 4060Requirements for Stablecoin Issuers and Issuance
The Comision Nacional de Activos Digitales (CNAD) establishes the mandatory documentation and procedural requirements for entities seeking authorization to issue stablecoins in El Salvador. Applicants must submit detailed identification data for issuers, shareholders, and administrators, alongside legal incorporation documents, audited financial statements, and specific compliance policies regarding insider information. The regulation further mandates the disclosure of operational jurisdictions, past digital asset offerings, and the designation of authorized notification representatives to ensure regulatory oversight.
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