Regulatory Alerts2024-04-24 | 4064Procedure for Registration of Digital Asset Service Providers
The Comisión Nacional de Activos Digitales (CNAD) mandates that applicants for Digital Asset Service Provider registration in El Salvador must complete a two-stage process involving pre-registration and definitive registration. The application requires submitting a comprehensive definitive registration form supported by extensive documentation covering business plans, AML/CFT compliance, risk management, security protocols, and operational procedures. Upon submission of the signed form and physical annexes, the CNAD Registration Department issues a receipt confirmation in accordance with the Digital Asset Issuance Law and its Regulations.
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