[NEWS] Bitfinex receives El Salvador's first digital asset license

On the 12th, overseas cryptocurrency exchange Bitfinex announced that it has obtained a digital asset license in El Salvador.

According to the exchange, this is the first case of a digital asset license being obtained in El Salvador.

In January of this year, El Salvador enacted the Digital Asset Securities Law (DASL), which sets out regulations on token issuance by the government and private businesses, fundraising through tokenization, and the tokenization of other investment products. Bitfinex is the first to obtain a license under this Digital Asset Securities Law.

By obtaining the license, Bitfinex will provide small and medium-sized enterprises, corporations, and individual investors with opportunities to participate in global markets.

It also added that by tokenizing securities and bonds based on blockchain, it has become possible to provide groundbreaking tools to companies, organizations, and investors that have not been able to receive sufficient services until now.

In a press release, Bitfinex emphasized the importance of tokenizing securities. In particular, it said that the ability to trade instantly and self-manage, as well as the ability to trade 24 hours a day, 365 days a year, are advantages that existing securities markets do not have.

He also explained that these elements match the vision of President Najib Bukele, who made Bitcoin (BTC) legal tender.

After making Bitcoin legal tender, El Salvador is actively trying to find ways to utilize it. One of the measures, Bitcoin bonds, has also moved forward toward realization with the enactment of the Digital Asset Securities Law.

Reference:Bitfinex announcement
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