The control and supervision of entities providing services or engaging in activities related to digital assets in El Salvador is exercised through the registration of these entities in the register administered by the National Commission of Digital Assets (CNAD).

After the first 300 days of Juan Carlos Reyes’ tenure as President of CNAD, the Public Register of the Commission shows healthy activity and vitality. In less than a year, starting from scratch, over twenty companies have processed and obtained the necessary authorization to register in the Public Register, thus becoming participants in the digital assets ecosystem and generating financial activity and new jobs in the country.

In compliance with the Digital Assets Issuance Law (LEAD) and the Regulation of Digital Assets Service Providers, the register administered by CNAD consists of four sections:

a) Natural and legal persons with provisional or definitive authorization to be Digital Assets Service Providers;

b) Certifiers;

c) Digital asset issuances made on the platforms or digital wallets of the Digital Assets Service Providers;

d) Stablecoins issued in public offerings or admitted for trading on the platforms or digital wallets of the Digital Assets Service Providers.

The Digital Assets Service Providers (DASP) Register currently includes 22 companies, accessible via the direct link Digital Assets Service Providers – National Commission of Digital Assets (CNAD).

The oldest registration belongs to the platform Binance Services, El Salvador, S.A. de C.V., with a registration date of August 8, 2023, and the most recent is for the provider Elly Financial Technologies, SLV, S.A. de C.V. with a registration date of June 10, 2024.

For certifiers, the first registration was Chiltex, S.A. de C.V. on September 5, 2023, and the most recent is Digital Assets Solutions, S.A. de C.V., on March 22, 2024. Certifiers – National Commission of Digital Assets (CNAD)

The Register also includes the issuers of digital asset offerings as well as issuers of stable assets, such as stablecoins.

As the digital assets ecosystem increases its number of participants, more and more economic agents will need to be authorized by CNAD. Interested parties must follow the due process established in the applicable regulations to obtain their respective operating permit and be legally recorded in the Public Register administered by the Commission.