Tether-parent iFinex to aid El Salvador’s crypto rules

Main Points:

– El Salvador partners with iFinex for crypto regulatory framework
– Bitcoin tracker launched to showcase country’s BTC stockpile

El Salvador’s Partnership with iFinex

El Salvador, known for being Bitcoin-friendly, is collaborating with iFinex, the parent company of Bitfinex exchange and Tether (USDT), to develop a comprehensive crypto regulatory framework. This partnership aims to establish a strong foundation for the digital asset and securities market in the Central American region, as envisioned by President Nayib Bukele. Bitfinex and Tether, under the leadership of CEO Paolo Ardoino, will bring new opportunities for mobilizing capital and tokenizing real-world assets like equities.

Transparency with Bitcoin Tracker

In addition to the iFinex partnership, El Salvador has emphasized transparency in its crypto endeavors by launching a Bitcoin tracker. This platform allows public access to view the country’s stockpile of 5,748 BTC valued at over $360 million. El Salvador made headlines in 2021 by legalizing Bitcoin as a legal tender and has since been accumulating the leading cryptocurrency. Despite facing challenges with the state-controlled Bitcoin wallet Chivo and data leaks by hackers, the country remains committed to its crypto-friendly stance.

Best Exchanges

Sign up now to enjoy a 20% discount on trading fees.

Join millions of traders worldwide on the platform trusted for its security, innovation, and global reach. Don't miss out, register today and start trading smarter with Bybit!

Sign up now to enjoy a 20% discount on trading fees.

Join millions of traders worldwide on the platform trusted for its security, innovation, and global reach. Don't miss out, register today and start trading smarter with Binance!

Sign up now to enjoy a 10% - 30% discount on trading fees.

Join millions of traders worldwide on the platform trusted for its security, innovation, and global reach. Don't miss out, register today and start trading smarter with OKX!

© Copyright 2023 | Powered by Inscoin