Only 11% of Bitcoin Companies Registered in El Salvador Are Operating Normally

Odaily News Of the 181 Bitcoin service providers registered with the Central Bank of El Salvador, only 20 are operational, while the rest do not meet the requirements of the country’s Bitcoin Law. Data shows that at least 22 non-operating providers fail to meet the requirements of most of the country’s Bitcoin Law, which requires providers to implement strict regulations on its financial system.

It is reported that El Salvador's Bitcoin law requires providers to maintain an anti-money laundering (AML) program, keep records that accurately reflect the company's assets, liabilities and equity, and develop a tailored cybersecurity plan based on the nature of its services. Data shows that 89% of registered providers fail to meet some operational obligations. (Cointelegraph)