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El Salvador relaxes policies, allowing investment banks to hold Bitcoin and provide encryption services.
[Golden Finance] According to reports, Juan Carlos Reyes, the chairman of the El Salvador Digital Asset Commission (CNAD, the government's cryptocurrency regulatory body) (Juan Carlos Reyes), stated that investment banks will now be allowed to hold BTC and other digital assets on their balance sheets and provide cryptocurrency services to "mature" investors (equivalent to accredited investors in the US). He added that the new "Investment Banking Law" allows private investment banks to provide fiat and foreign currency trading services to "mature investors" and permits them to hold digital asset service provider (PSAD) licenses to engage in digital asset businesses such as Bitcoin. Banks holding a PSAD license can choose to operate entirely as Bitcoin banks.