Regulatory Alerts2024-04-22 | 3668Regulation of Digital Asset Service Providers 2023
The National Commission of Digital Assets (CNAD) of El Salvador issued this regulation to establish the legal framework, obligations, and registration procedures for Digital Asset Service Providers. The document mandates a definitive registry, requires specific documentation and fees for entry, and imposes strict cybersecurity, operational diligence, and market conduct standards. It further outlines reporting requirements for digital asset issuances and stablecoins, alongside provisions for registration modifications, cancellations, and tax exemptions.
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