Regulated Bitcoin investment banks are now allowed in El Salvador after the approval of the Investment Banking Law. Investment banks can hold BTC and offer crypto services to “sophisticated” investors. El Salvador aims to become a hub for finance with this law. Critics argue that BTC adoption mainly benefits the government and large businesses.

El Salvador’s President Nayib Bukele met with Pakistan’s state minister of crypto to discuss Bitcoin adoption and energy policy for crypto mining. They aim to leverage technology and financial instruments for national growth. This partnership aims to drive crypto growth in emerging economies.

Bolivia’s central bank signed a memorandum of understanding with CNAD to promote cryptocurrencies as an alternative to traditional fiat currencies. Due to a currency crisis, US dollars are scarce in Bolivia, making international trade difficult. This agreement allows for the use of stablecoins as a medium of exchange.

Read more at Cointelegraph: Bitcoin Investment Banks are Coming