Bitfinex Securities has received the first digital asset service provider license from El Salvador’s Digital Assets Commission, the authority currently regulating crypto assets in the country. This licensing regime comes under the new Digital Assets Issuance Law passed by National Congress that came into force in January 2023. The bill aims to accelerate financial innovations in the state, allowing crypto firms to issue real-world tokenized assets.
El Salvador expressed a positive stance on cryptocurrencies with its move to become the first-ever country to give Bitcoin legal tender in 2021. With its ambitions to make the Latin American country a digital hub, the government paved the way for financial freedom by implementing crypto-friendly policies. In turn, crypto platforms around the globe are settling their shops in the country due to regulatory clarity.
Speaking on the achievement, Bitfinex said in a blog post;
El Salvador’s Digital Asset licence is a significant step forward for tokenised securities as an asset class. The licence opens the door wide open for entities like small companies and governments to raise capital in a regulated market with clear rules set forth under the DASL. In addition to raising capital through token issuance, it lays out rules for new kinds of tokenised securities like tokenized shares, yield-bearing assets, and other investment products.
Bitfinex Securities Will Operate Independently
The announcement affirmed that Bitfinex Securities is a new entity that will function differently from other similar platforms established around the globe. In other words, Bitfinex Securities will run independently from Bitfinex Secur
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Author: Jammy Hunts
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