Only 11% of Bitcoin businesses registered in El Salvador are actively operating

Of the 181 bitcoin service providers in El Salvador, only 20 were found to be actively operating.
On the 15th (local time), Cointelegraph cited local media outlet El Mundo, reporting that of the companies registered with the Central Bank of El Salvador,
Only 11 percent were operational. All the rest were classified as "non-operational," according to the central bank's database.
According to the Salvadoran Bitcoin Law, registered providers must comply with the Anti-Money Laundering (
Each company must maintain an appropriate Cybersecurity and Malware Protection (AML) program, keep records that accurately reflect the status of the company's assets, liabilities and capital, and have a cybersecurity program tailored to the nature of its services.
However, 89% of all registered firms are unable to meet some of these legal obligations and therefore cannot be classified as “operating.” In particular, at least 22 firms are failing to comply with certain legal requirements, including strict monitoring of bitcoin flows.
The government-backed Chivo Wallet was found to not meet most of the key requirements of the Coin Act.
Wallet), Crypto Trading & Investment
Some firms, including Fintech Americas, BOI, BOI Trading & Investment, and Fintech Americas, were reported to meet the requirements.