Licensing Procedures for Cryptocurrency Companies eases in El Salvador! Let’s Know More!
By now, we all know that El Salvador has been “The First Country” to adopt #Bitcoin #BTC as its “national #currency” & El Salvador is taking another massive/big step towards establishing the “mainstream #cryptocurrency adoption” by easing/simplifying the #licensing procedures for #crypto companies.
Several major and minor steps have been taken in this regard to achieve this significant milestone. After establishing #Bitcoin as its National Currency, El Salvador has indeed shown the world about its openly acceptance of the cryptocurrencies to the mainstream.
Where others were either skeptical or unsure/afraid to take such a big and drastic step that could either lead to major implications for the country, El Salvador dared to achieve that!
Now, in a major and significant step towards establishing cryptocurrencies, #ElSalvador has issued its very first #digital #asset #license to #Bitfinex a couple of months back & is anticipating to attract/invite more such crypto companies on its land, by simplifying the entire process.
Some Details about Bitfinex:
Established in the year 2012, as a “platform” for trading/dealing several #digital #assets “Bitfinex” is a “prominent #cryptocurrency exchange”.
Bitfinex is headquartered/based in “Hong Kong”, famous for its most progressive trading features like “lending” and “margin trading”.
Bitfinex offers an extensive range of #cryptocurrencies for #trading, including #BTC #Bitcoin, #ETH #Ethereum, and several other cryptocurriencies.
Bitfinex caters to both segment of “experienced & #novice #traders”. Though, the crypto-exchange has encountered controversy/dispute, comprising some “legal challenges & apprehensions” about its “transparency” and the way of doing things that were unclear.
In spite of this, “Bitfinex” actually still remains a significant/major player in the “crypto space”, facilitating, easing and permitting the trading, #selling and #buying of several #cryptocurrencies for #worldwide users.
El Salvador's adoption of Bitcoin
Quite interestingly, by providing “banking services” to more than 80% of its main population, for those, who didn’t use #banks, El Salvador, turning to “Bitcoin” has definitely had several “positive effects” for the people of its country.
Even the “tourism revenue” produced/made, has also doubled, in a major step for El Salvador.
With major “cryptocurrency Companies” considering to establish/create their presence in El Salvador, it remains to be a leader and a “trendsetter” concerning the “mainstream acceptance of the cryptocurrencies” hence taking all major and minor steps & measures to make the licensing procedures simpler, quicker & easier.
Surprisingly, this small “South American Nation” unlocked the access to “banking services” for more than 80% of its people, who didn’t have access to “financial services” & literally “doubled the revenue” made through “tourism” by boldly creating, making and establishing “Bitcoin” #BTC as a “national tender”. El Salvador does deserve Kudos!
Hopefully other countries will follow this model and establish Bitcoin and other Cryptos into its mainstream trading by easing all odd norms and letting the people breathe easy while trading, buying & selling cryptocurrencies.
It’s actually high time now! The adoption of #Cryptos in to the mainstream has to happen sooner than later. Therefore, follow El Salvador and set an example.
Thank You!
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