Only 11% of Bitcoin companies registered in El Salvador are operating normally
Out of the 181 Bitcoin service providers registered with the Central Bank of El Salvador, only 20 are in operation, as the rest have failed to meet the requirements of the country's Bitcoin law. Data shows that at least 22 non-operating providers have failed to comply with most of this law, which requires strict regulation of their financial systems.
The Salvadoran Bitcoin law reportedly requires providers to maintain an anti-money laundering (AML) program, keep records accurately reflecting company assets, liabilities and equity, and develop a tailored cybersecurity plan based on their service nature. The data indicates that 89% of registered providers have not met some operational obligations.
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