From Cointelegraph

April 15, 2025 07:18 AM:

Only 20 out of 181 Bitcoin service providers in El Salvador are operational, with the rest not meeting country requirements. Most providers failed to implement stringent financial system supervision, Anti-Money Laundering programs, and cybersecurity measures as per the Bitcoin Law.

El Salvador’s Bitcoin Law mandates AML programs, accurate record-keeping, and tailored cybersecurity for providers. 89% of registered providers failed to meet these obligations, including state-backed Chivo Wallet and other firms like Crypto Trading & Investment.

In 2021, El Salvador became the first country to accept Bitcoin as legal tender alongside the US dollar. Despite this, the country signed a $1.4 billion IMF loan agreement, leading to speculation on whether Bitcoin’s legal tender status will be rescinded. President Bukele stated the government will continue purchasing Bitcoin despite the IMF deal.

Read more at Cointelegraph: Only 11% of El Salvador’s registered Bitcoin firms operational