El Salvador lawmakers to consider regulation for issuing digital assets

El Salvador’s Legislative Assembly is considering a long-awaited law aimed at regulating digital asset service providers and issuers in the country. according to a document seen by The Block and corroborated by a broadcast of a Nov. 22 plenary session. Digital asset service providers in El Salvador would have to complete a registration process and follow several rules under the proposed law. These entities would have to provide a list of digital assets they plan to offer, including their “benefits, restrictions and limits.” They would also have to demonstrate cybersecurity precautions and customer service capabilities, as well as providing the names and titles of company employees.