FinTech guide launched for those who want to invest in El Salvador

A Fintech Business Guide aimed at companies and businesses interested in investing in the Central American country was presented a few days ago in El Salvador

The document was prepared by the legal firm specialized in cryptocurrencies and new technologies, Torres Legal, based on investigations carried out in Salvadoran territory. As they explain through their social networks, The guide has been presented to the Salvadoran Chamber of Information and Communication Technologies (CasaTIC).

The idea is to offer market, financial and regulatory information existing in El Salvador, within the framework of the growing interest shown by many entrepreneurs to set up businesses in the country. This, after the approval of favorable laws both for investments related to bitcoin (BTC) and in the field of FinTech in general.

Based on the above, the guide shows the dominant trends in the field of cryptocurrenciesthe role of neobanks in the digital transformation of financial services and financial inclusion initiatives in the country.

In addition, the regulations that are in force are listedthe legal support on which operations can be started and the state agencies that apply the rules are clarified, mainly those that have to do with the bitcoin ecosystem. These bodies include the Central Reserve Bank, the Superintendency of the Financial System, the Office of Financial Innovation, the Secretariat of Innovation of the Presidency, the National Bitcoin Office and the National Commission for Digital Assets.

The objective is “to provide accurate and up-to-date information to help investors make informed decisions and take full advantage of opportunities,” says the director of Torres Legal, Héctor Torres.

The new guide is presented in a context in which El Salvador is presented as an attractive alternative for investors and tourists interested in the bitcoiner world.

The attraction has been on the rise since BTC was declared legal tender in 2021. Subsequently, new favorable laws have been enacted. Among them, the Law for the Promotion of Innovation and Technological Manufacturing stands out, which exempts businesses linked to new technologies from taxes.

As reported by CriptoNoticias, companies that handle bitcoin payments such as Strike and Fold recently decided to move their operations to the Central American country, also fleeing of the regulatory pressures exerted by the United States government.