Bitfinex Becomes First Exchange to Receive Trading License in El Salvador

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Bitfinex Securities El Salvador received on April 11 a service provider license from the National Commission for Digital Assets of El Salvador, making them the first organization to be granted permission to trade digital assets in the country.

The platform CTO Paolo Ardoino declared the license a “important milestone” on the journey to Latin America’s financial autonomy.

Bitfinex Securities El Salvador will be run independently from its parent company, Bitfinex Securities Limited. In September 2021, El Salvador’s government declared bitcoin a legal form of payment.

Despite criticism from the International Monetary Fund, Ardoino has backed the initiative, saying it is too early to judge the success of the decision one year later, given the ever-changing geopolitical climate.