Flagship jurisdiction · regulator: CNAD
El Salvador crypto (DASP) licence
A single national licence covering exchange, custody, transfers and token issuance — from a regulator built to say yes to serious crypto businesses.
- Licence
- Digital Asset Service Provider (DASP), CNAD registry
- Timeline
- ≈3–6 months from a complete application (plus preparation)
- Gov. fees
- ≈US $5,500 registration + ≈US $3,650/year
- Capital
- US $2,000 minimum share capital
- Best for
- Exchanges, wallets, custodians, token issuers not targeting US clients
What the licence covers
El Salvador's Digital Asset Issuance Law (2023) created a dedicated regulator — the Comisión Nacional de Activos Digitales (CNAD) — and a single registration regime for digital asset service providers. One licence, one regulator, one rulebook. The January 2025 rollback of Bitcoin's legal-tender status (part of the IMF deal) did not touch the DASP regime — CNAD keeps registering providers in 2026.
- Exchange of digital assets — crypto-to-fiat and crypto-to-crypto
- Trading platforms and derivatives on digital assets
- Custody, administration and wallet services
- Public offerings and issuance-related services
Bitcoin-only services fall under a separate BSP registration with the Central Reserve Bank; multi-asset platforms typically need the CNAD track — we scope which applies to you.
What CNAD expects from you
| Local entity | Salvadoran company or registered branch; 100% foreign ownership permitted |
| Capital | US $2,000 minimum share capital — nominal by design |
| KYC/AML | Compliance programme with two certified AML officers, at least one resident in El Salvador and registered with the financial intelligence unit (UIF) |
| Management | Fit-and-proper directors and shareholders; disclosure of beneficial owners |
| Documents | Business plan, financial model, security and custody policies, terms of service |
| Presence | Registered office in El Salvador; the rest of the team can stay distributed |
Exact requirements depend on your activity mix — issuance, exchange and custody are reviewed differently. We scope this in the first call.
How long, how much
Structure & prepare
Entity formation, documents, compliance pack. Typically the longest phase — quality here decides the review speed.
File with CNAD
Application submitted with the full dossier; the regulator reviews and comes back with questions.
Registration granted
Entry in the DASP registry — you can operate, open accounts and sign counterparties.
Plan for roughly 3–6 months of CNAD processing from a complete submission, plus 2–4 months of preparation before filing. Government fees are modest: registration of about US $5,500 (15 minimum monthly wages) and an annual fee of about US $3,650. With professional services, the all-in budget stays a fraction of a single US state licence.
The practical part
Tax treatment
The Digital Asset Issuance Law (Art. 36) exempts regulated digital-asset activities from income tax, capital gains tax and VAT. Withholding tax on dividends to foreign shareholders still applies — we model your effective rate before you commit.
Banking — the real test
Banking is the key practical risk in any emerging jurisdiction. We test account options — local banks, regional banks and EMIs — against your flows before filing, so the licence never outruns the account.
Why not just license in the US?
Because there is no single US licence to get. The US route means FinCEN registration plus money transmitter licences in up to 49 states, plus New York's BitLicense — each with its own fees, bonds and 6–18 month reviews. For most non-US-facing models it's the most expensive way to buy a flag you don't need.
Is this the right fit?
El Salvador works when
- You need to launch fast on a startup budget
- Your clients are global, not primarily US residents
- You want one regulator instead of fifty
- Tax efficiency matters to your model
Look elsewhere when
- US retail clients are your core market — see the US route
- Your counterparties require an EU or US flag specifically
- You can't operate with an emerging-market banking setup
El Salvador DASP — common questions
How long does the El Salvador crypto licence take?
How much does a DASP licence cost?
Do I need a local office or local team?
Who is CNAD?
Can a Salvadoran DASP serve US customers?
What about taxes for licensed providers?
Did the 2025 Bitcoin Law changes affect the DASP regime?
Get licensed in El Salvador
Tell us your model and target launch date. We'll confirm the fit, scope the budget and start the structure — or tell you honestly if another jurisdiction serves you better.