Bitcoin Service Provider Registration
Registration for businesses providing Bitcoin-related services including payment processing, wallet services, and Bitcoin-to-USD exchange under El Salvador's Bitcoin Law.
Bitcoin Law (Ley Bitcoin) 2021, Art. 1-17
Capital Required
No statutory minimum
Timeline
1-2 months
Fees
USD 500-2,000 registration
Regulatory Body
National Commission of Digital Assets (CNAD) / Central Reserve Bank of El Salvador
Legislative Framework
Bitcoin Law (Ley Bitcoin) 2021, Digital Assets Issuance Law 2023, Digital Assets Service Provider (DASP) Regulations
Last updated: August 2025
Key Requirements
Register business entity with El Salvador Ministry of Commerce with Bitcoin service activities specified.
Implement AML/CFT procedures including customer identification and transaction monitoring per Bitcoin Law requirements.
Establish customer communication procedures for transaction confirmation and dispute resolution.
Maintain audit trail and transaction records for minimum 5 years with documentation of conversions and transfers.
Implement security measures protecting customer Bitcoin holdings including wallet security and backup procedures.
Report monthly operational status to Ministry of Commerce including transaction volumes and any incidents.
Application Process
Register business entity with El Salvador Ministry of Commerce specifying Bitcoin service activities.
Submit written AML/CFT compliance procedures and customer identification requirements.
Provide operational procedures documentation including transaction processing and record keeping.
Submit evidence of security measures for Bitcoin holdings and customer fund protection.
File Bitcoin Service Provider Registration form with Ministry of Commerce.
Receive registration approval and commence Bitcoin service operations.
Expected Total Timeline
1-2 months
Ongoing Obligations
After obtaining your Bitcoin Service Provider Registration, these are the continuing compliance requirements you must maintain.
File monthly operational reports with transaction volumes, customer accounts, and any regulatory violations.
Maintain customer records including identification, transaction history, and dispute resolution for 5 years minimum.
Conduct annual compliance review addressing AML/CFT procedures and customer protection effectiveness.
Report suspicious transactions or fraud attempts to Ministry of Commerce within 10 days.
Maintain security procedures for Bitcoin holdings with quarterly verification and testing.
Notify Ministry of Commerce of material changes to business model or ownership within 15 days.
Cost Summary
Capital Requirement
No statutory minimum
Application & Licensing Fees
USD 500-2,000 registration
Jurisdiction Setup Cost
$5,000-$15,000
Annual: $3,000-$8,000
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