Regulatory Alerts2024-04-22 | 3669Digital Asset Service Providers Regulations
The National Commission of Digital Assets of El Salvador issued these regulations to establish the obligations, standards, and registration process for Digital Asset Service Providers operating within the country. The framework mandates that providers register in a public registry, pay specific initial and annual fees, and adhere to strict requirements regarding cybersecurity, conflict of interest, and fair market conduct. Additionally, the regulations enforce anti-money laundering compliance, require the establishment of internal codes of ethics, and impose quarterly reporting obligations for digital asset issuances and stable currencies.
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