Regulatory Alerts2024-04-22 | 3666Law of Issuance of Digital Assets
The President of El Salvador submitted a draft legislative decree to the Legislative Assembly to establish a legal framework for public offerings of digital assets within the country. The law creates the National Commission of Digital Assets to regulate issuers, service providers, and certifiers while explicitly excluding central bank digital currencies and legal tender from its scope. It defines digital assets as non-securities, outlines specific definitions for market participants, and establishes fee structures for registration and authorization to promote market efficiency and investor protection.
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