Crypto license in El Salvador

El Salvador became the first country in the world to recognise Bitcoin as an official means of payment, opening up unique opportunities for companies working with digital assets. With the growing legalisation of the crypto market, businesses now have the opportunity not only to trade BTC, but also to build a full-fledged infrastructure with state support and in compliance with international AML and KYC standards.

Obtaining a crypto license in El Salvador allows you to officially provide services in the field of issuance, exchange, storage, and management of digital assets and act as a digital asset provider.

Price: from 10,500 USD

Crypto licensing is regulated by a special law on digital assets (Ley de Emisión de Activos Digitales), which provides for strict compliance checks, the issuance of a NIT (Número de Identificación Tributaria) identification number, and registration in the CNAD (Comisión Nacional de Activos Digitales) system.

Advantages 

  • easy to obtain and cost-effective;
  • legal work with BTC and other digital assets;
  • access to banking infrastructure;
  • support from CNAD;
  • zero taxes.

There are two types of licences in El Salvador: BSP and DASP. 

BSP (Bitcoin Service Provider) is issued by the Salvadoran central bank and allows you to work only with Bitcoin, in particular the following types of operations:

  • exchange (including fiat currencies);
  • custodial services (storage of clients' Bitcoins);
  • making payments. 

DASP (Digital Asset Service Provider) is issued by CNAD (National Commission for Digital Assets). It allows you to work with a wide range of crypto instruments, excluding Bitcoin. It allows you to provide the following services:

  • investment and custody services;
  • exchange of crypto assets, including fiat currencies;
  • trading platforms for trading crypto assets and derivatives.

Requirements

  • a local legal address
  • an account with a local bank
  • a share capital of USD 2,000
  • a compliance officer and internal control system
  • development and description of KYC and AML policies
  • a business plan and financial model
  • submission of documents to CNAD and passing an audit.

All documents must be prepared in accordance with the requirements of the law, in Spanish, and notarised. Salvadoran regulators pay great attention to the compliance of the applicant's internal processes with international financial security standards.

Stages

  1. We collect all the necessary information during the consultation process;
  2. We collect the necessary documentation;
  3. We determine the services provided by the company;
  4. We accompany you through the company registration process;
  5. We open a bank account;
  6. We prepare the relevant documents for the website and application;
  7. We develop compliance control systems;
  8. We assist in the development of internal instructions, procedures and policies; 
  9. We collect and compile documentation for obtaining a license;
  10. We submit and obtain a crypto license.

The entire process takes 3 to 4 months from the date of company registration. The Salvador crypto license is a strategic tool for entering the global market. With growing demand for transparency, legal protection and high AML and KYC standards, obtaining a DASP licence in El Salvador is becoming an advantageous step for crypto projects focused on sustainable development and international partnership.

Additional services

Paid separately 

  • We open accounts in a neobank;
  • We provide the services of a local AML officer / month;
  • We help with accounting.

How long does it take to obtain a crypto license?

On average, it takes 3 to 4 months from the moment you submit a complete set of documents to the CNAD (The National Commission of Digital Assets). The most time-consuming stages are preparing the documentation, opening a bank account, and developing a compliance system. The time frame may vary depending on the complexity of the company's structure and the quality of the documents provided.

Is it possible to obtain a license without being physically present in El Salvador?

The license application process can be organised remotely. However, in order to comply with legal requirements, you will need a registered local address, a bank account with a Salvadoran bank, and an authorised representative to interact with regulators. Many processes, including document submission, business model approval, and compliance, are available remotely through a trusted representative.

Is it necessary to obtain a license in El Salvador if the company already has a crypto license in another country?

Having a licence in another jurisdiction does not exempt you from the need to go through the licensing process in El Salvador. Each state sets its own regulatory requirements. To provide services in El Salvador or on behalf of a company registered there, you must obtain a local DASP licence in accordance with the Digital Assets Act and undergo a CNAD compliance audit.

Alla, an expert at Intelligent Solution Group, will answer all your questions

Alla

Sign up for a consultation!

Leave your contact information and our specialist will contact you within 30 minutes.