Overview

• Proposed Bitcoin banks will offer deposits, lending and payments fully denominated in Bitcoin.
• Legislation mandates each bank to hold at least $50 million in capital and permit foreign shareholders.
• El Salvador’s Bitcoin reserves stand at 6,262 BTC, worth around $730 million at current market prices.
• The IMF has alleged the country paused new Bitcoin purchases in late 2024 and cautioned that further crypto expansion could heighten economic volatility.
• Bolivia is studying El Salvador’s crypto banking model while firms such as Tether have established regional operations in the country.