El Salvador has become the first country to legalize Bitcoin and is now introducing a law allowing investment banks to hold digital assets.
New Law for Investment Banks
El Salvador's Digital Assets Commission, led by Juan Carlos Reyes, announced a law allowing investment banks to hold digital assets like Bitcoin. The aim of this law is to attract foreign investment.
Criticism and Public Impact
Critics argue that existing policies primarily serve institutional interests over the general public. While the law aims to enhance financial innovation, there are concerns about benefits being skewed towards institutions rather than the general populace.
> "No official statements as of August 10, 2025." - Juan Carlos Reyes, Chairman, CNAD
Historical Context and Price Data
In 2021, El Salvador became the first country to make Bitcoin legal tender, setting the foundation for current financial reforms. These actions resulted in striking short-term BTC volume surges, though long-term retail impacts remained underwhelming.
According to CoinMarketCap, Bitcoin maintains a market dominance of 58.99%. Its current price is $116,580.18, with a market cap of 2.32 trillion USD. Recent activity reports a 24-hour trade volume of 53.9 billion USD and circulation at 19,904,184 BTC.
The introduction of the law allowing investment banks to hold Bitcoin in El Salvador may impact the long-term financial landscape of the country, but attention should be paid to the government's commitments to ensure benefits for the broader public.
