El Salvador reports growth in regulated digital asset ecosystem

El Salvador’s National Digital Assets Commission (CNAD) celebrated its third anniversary, highlighting the growth of the country’s regulated digital asset ecosystem. Vice President Félix Ulloa noted that since the adoption of Bitcoin in 2021, the nation has worked to build a financial policy focused on innovation and legal certainty.

Juan Carlos Reyes, president of the CNAD, reported significant figures within the regulated sector. As of early September 2024, there are 156 active companies in the supervised ecosystem, including 81 digital asset service providers and 46 issuers of digital assets and tokenized instruments.

The report detailed that US$3,781 million is concentrated in debt, leasing, and factoring instruments, representing 205 emissions. Additionally, tokenized real estate and construction projects have reached approximately US$633 million. The CNAD continues to work alongside the Central Bank and the Superintendency to provide a specific regulatory framework for these non-traditional financial instruments.