El Salvador has passed laws related to digital asset issuance and established a national digital asset committee

El Salvador’s parliament approved a law on the issuance of digital assets, establishing a legal framework for all digital assets other than Bitcoin, allowing El Salvador to publicly issue digital assets and transfer them, which is expected to lay the legal foundation for the issuance of its Bitcoin bonds . Additionally, the legislation created the National Commission on Digital Assets to apply securities laws to protect the rights of buyers and issuers of digital assets in El Salvador and to deter fraudsters from doing business in El Salvador. Digital asset service providers in El Salvador must complete a registration process and comply with several rules under the proposed law, including providing a list of the digital assets they plan to offer, covering their “benefits, limitations and scope,” and must demonstrate cybersecurity precautions and customer service capabilities, and provide the names and titles of company employees. Issuers of digital assets must also comply with certain rules, such as disclosing information about the jurisdictions or countries in which they operate.