Fintech & digital payments rules in El Salvador (2026)

The Ley de Emisión de Activos Digitales created the CNAD as the sole regulator of digital asset service providers. A mandatory DASP license is required for exchanges, custodians, and digital-asset payment processors; obligations include AML/KYC compliance, cybersecurity controls, and financial reporting. Articles 21-A through 21-D of the law govern BSP registration specifically for Bitcoin service providers under BCR supervision.

Amended in February 2025 pursuant to El Salvador's USD 1.4 billion IMF Extended Fund Facility agreement, the Bitcoin Law now makes Bitcoin acceptance voluntary for merchants; taxes and government fees may only be paid in US dollars. The government-run Chivo wallet is being divested as part of the IMF conditionality.

Enacted August 7, 2025, this law permits institutions with a minimum USD 50 million capital to register as investment banks and hold or transact digital assets, requiring a DASP license from CNAD. Services are restricted to 'sophisticated investors' (≥ USD 250,000 in liquid assets). Prudential requirements (capital adequacy, liquidity, risk management) are supervised by the BCR; compliance and investor protection fall to the SSF.

The bill 'Ley para el Fomento de Entidades Fintech y Regulación de Servicios Financieros Digitales,' received by the Legislative Assembly on August 20, 2024, would establish BCR/SSF co-supervision and explicit licensing for digital payment platforms, P2P lending, and digital wallet issuers (requiring 100% USD reserve at the BCR). It would also create a regulatory sandbox (Financial Innovation Office/OIF) and a 5-year income-tax exemption for qualifying fintechs. Status as of early 2026: under legislative review, not enacted.

The BCR launched a 24/7 retail interbank payment platform in early 2026 aimed at broadening financial inclusion for informal-sector workers. No formal open banking mandate or API-access framework exists; the Open Banking Tracker records no operative open banking scheme in El Salvador.

Decreto No. 426 (October 2025), published in the official Diario Oficial, extended customer due diligence and suspicious activity reporting obligations to fintech entities and digital asset service providers, aligning El Salvador's AML/CFT regime with FATF recommendations. BNPL has no sector-specific rules as of early 2026.