El Salvador Crypto License

Service snapshot

Decision point	At a glance
Routes	DASP authorization through CNAD. BSP registration through BCR.
Deliverables	Company formation, application documentation and registration support, with additional compliance and banking services by package.
Practical timing	DASP: approximately 8–9 months. BSP: approximately 2–3 weeks. Gofaizen & Sherle experience-based estimates.
Government fees	DASP: $6,132 initially and $4,088 annually. BSP: no government fees.
Corporate capital	$2,000 for the company setup discussed below, separate from licensing fees.
Initial setup packages	Basic: $12,400. Advanced: $23,500. Full: $29,900. DASP government fees are separate.

Is this the right fit for your business?

El Salvador may suit a business that wants a local operating structure and can maintain the controls its services require.

May fit: founders preparing a new launch, existing companies adding a Salvadoran operation, and international groups able to assess customer-market rules separately.

May not fit: projects relying on automatic access to foreign markets, guaranteed banking or a registration certificate without an operating compliance framework.

Needs individual assessment: businesses combining customer assets with lending, investment products, fiat payment services or token issuance. The commercial label alone does not determine the required permissions.

Do you need DASP, BSP or both?

A BSP registration covers Bitcoin services. A DASP authorization covers services involving other digital assets. An exchange offering BTC, ETH and USDT therefore needs both statuses.

Criterion	DASP	BSP
Asset scope	Digital assets other than Bitcoin	Bitcoin only
Legal status	CNAD authorization and registration	BCR registration and certificate, rather than a separate licensing approval
Authority	National Commission of Digital Assets (CNAD)	Central Reserve Bank (BCR) for registration. SSF for supervision.
Application route	Preliminary assessment followed by definitive registration	Online registration with BCR
Documentation focus	Business, ownership, compliance, security and service-specific documentation	Information and supporting documents required for the BCR registration
Financial planning	Government fees and corporate capital are separate, as detailed below	No government fee. Company setup and operating costs remain separate.

Neither status is an unrestricted permission for every financial activity. In particular, DASP services supporting an issuance must be distinguished from approval of the issuer and offering itself.

Which digital asset services can the project cover?

The application should describe what customers can actually do, who controls their assets and how orders or payments are processed.

• Exchange and trading: conversion between fiat and digital assets, asset-to-asset exchange, and operation of trading platforms within the relevant scope.
• Custody and wallets: safeguarding customer assets or the private keys and other means used to control them.
• Transfers and order handling: transferring assets for customers, receiving and transmitting orders, and relevant derivative-order execution.
• Bitcoin payment processing: merchant transactions and payment infrastructure handling Bitcoin under the BSP route.
• Investment-related DASP services: risk and price assessment, underwriting, placement, and structuring or managing digital-asset investment products, subject to the authorized activities.

Tokenization requires a separate assessment of the asset, issuer and offering. A provider’s authorization does not automatically approve a token launch.

What licensing support does Gofaizen & Sherle provide?

Gofaizen & Sherle coordinates company formation, regulatory documentation and the relevant registration process. The package determines the depth of policy preparation, local staffing support and banking assistance.

The work connects the corporate structure, ownership records, business model and compliance arrangements into a submission package. Gofaizen & Sherle also supports regulatory communication and document revisions within the agreed engagement. The client supplies accurate business information and implements the operational controls, technology and responsibilities not covered by the selected package.

Government fees and other budget items

DASP carries a $6,132 initial government fee, payable separately upon authorization, and a $4,088 annual renewal fee. BSP has no government registration or annual fee.

The $2,000 corporate capital is separate from package prices and government fees. The proposal should also identify external charges and ongoing costs not expressly included, such as additional document work, technology, staffing beyond the covered period and continuing accounting or compliance services. Document preparation, translation and apostille services already included in a package should be distinguished from additional work.

How does the application process work?

Gofaizen & Sherle organizes the project around decisions and deliverables, with separate submission routes for DASP and BSP.

1. Assessment: review the product, assets, customers, ownership and transaction flows.
2. Package and structure: select Basic, Advanced or Full and confirm included services, staffing periods, external costs and client responsibilities.
3. Preparation: assemble corporate and personal documents, the business description and relevant compliance materials.
4. Submission: support the BCR online registration or the CNAD preliminary and definitive stages, as applicable.
5. Review and completion: coordinate responses, confirm the resulting status and address remaining launch dependencies. Where included, banking applications can progress alongside the registration work.

For DASP, a preliminary “no objection” is not permission to start operating. The company must obtain definitive authorization before providing the relevant services.

What documentation should clients prepare?

The initial assessment needs a clear picture of the business. Clients should provide:

• People: shareholders, ultimate beneficial owners, directors and proposed key personnel.
• Products: supported assets, services, revenue model and custody arrangements.
• Markets: customer countries, target segments and planned marketing locations.
• Flows: movement of fiat and crypto, counterparties and expected transaction volumes.
• Corporate records: existing entities, ownership chart and evidence of funding.
• Existing materials: business plan, AML/KYC policies, technical documentation and previous applications.

A fully functional operating platform is a mandatory requirement at the time of the license application. The platform must already be built and ready for operation when the application is submitted. A development plan or a platform still under construction is insufficient. Technical readiness does not authorize the company to begin regulated services before approval.

Gofaizen & Sherle uses the initial inputs to identify missing documentation and assess what must be completed before filing.

How long does preparation and review take?

Based on Gofaizen & Sherle’s practical experience, DASP projects take approximately 8–9 months, while BSP registration takes approximately 2–3 weeks. These are planning estimates, not statutory deadlines or guaranteed completion dates.

Stage	What determines the timing?
Company setup and documents	Existing structure, document availability, translations and corporate formalities
Compliance preparation	Product complexity, existing controls and readiness of responsible personnel
DASP preliminary phases	CNAD assessment and requests for additional information, without a fixed statutory duration for these phases
DASP definitive review	The published 20-working-day review stage, subject to completeness and further requests
Banking and operational setup	Separate institution and provider assessments

The CNAD registration procedure describes 20 working days to evaluate the definitive submission and issue a decision or request missing information. It also gives the applicant 10 working days to supply missing documents. This should not be read as a promise that the whole project takes 20 or 30 working days.

What regulatory framework and requirements apply?

DASP activities fall within the Digital Assets Issuance Law, known as LEAD, and the relevant CNAD regulations. The CNAD legal framework library provides access to the law, provider regulations and related guidance. Bitcoin services follow the separate BSP registration route through BCR.

For a DASP project, the operating arrangements include:

• Measures to safeguard client assets and manage cybersecurity, with a cybersecurity officer.
• A principal compliance officer and a deputy, both resident in El Salvador.
• A local address for notifications and local representation.
• AML/CFT policies and procedures appropriate to the services.

For the company setup described by Gofaizen & Sherle, the capital figure is $2,000. It is a corporate setup requirement, not an additional DASP or BSP licensing charge. The chosen legal form and funding plan should be reviewed separately. Maintaining security, staff and operational controls requires a budget beyond incorporation capital.

What is the current status?

Last updated: 11 September 2026.

Established route	What remains project-dependent?
Separate BSP registration and DASP authorization	The combination needed for the proposed assets and services
Definitive DASP authorization before operations	Completion of review and any outstanding conditions
Compliance continues after registration	Controls, reporting and personnel appropriate to the operating model
Banking follows a separate assessment	Acceptance by each bank, EMI or PSP

The business model should be reassessed before adding products, customer markets or activities beyond the original scope.

What ongoing compliance is needed?

Registration is the start of supervised operations. The ongoing framework should cover:

• Customer identification, risk assessment and proportionate enhanced checks.
• Transaction monitoring, escalation and applicable suspicious-activity reporting.
• Records supporting customer activity, asset balances and regulatory submissions.
• Continuing security, access controls and protection of customer assets.
• Relevant notifications when ownership, key personnel or activities change.
• Applicable supervisory requests, reporting and DASP annual renewal obligations.

The compliance calendar must reflect the relevant route. DASP personnel and reporting arrangements should not be assumed to describe every BSP obligation.

Can Gofaizen & Sherle help with banking, EMI or PSP access?

Yes. Full package includes assistance with corporate account opening at a local conventional bank and a European EMI. For other packages, banking support can be agreed separately. A license or registration does not guarantee an account.

Institutions assess beneficial ownership, sources of funds, transaction flows, customer markets, counterparties and the effectiveness of compliance controls. Gofaizen & Sherle can help present these materials consistently with the regulatory application. Each institution decides whether to accept the business and which services it will offer.

How does tax treatment work?

Tax benefits depend on the activity and the relevant legal conditions. They are not a blanket exemption for every receipt of a crypto business.

Article 36 of LEAD provides exemptions for qualifying digital-asset income and activities of covered participants. It also excludes exchanges for goods or services outside Article 19 from those benefits.

The assessment should distinguish qualifying DASP revenue, Bitcoin transactions, other business income and any separate investment or technology incentive. Receiving payment in a digital asset does not by itself establish that the underlying sale is exempt. A tax specialist should review the company’s activities, transaction types and distributions before those benefits are built into financial projections.

How does El Salvador compare with other routes?

The relevant comparison starts with where you intend to operate and serve clients. An overseas registration should not be chosen as a substitute for permissions in the target market.

Route	Market fit	Capital and local presence
El Salvador DASP/BSP	A Salvadoran operation with the appropriate status for its assets and services	Corporate setup funding and route-specific operating arrangements. DASP local roles are described above.
EU MiCA CASP authorization	In-scope services intended for the EU market	EU registered office and effective management. Prudential safeguards depend on services and fixed overheads.
UK FCA registration under the MLRs	In-scope cryptoasset business carried on in the UK	Assess the UK business connection, resources and applicable requirements for the proposed activities.

For the EU route, MiCA Article 59 sets establishment requirements, Article 67 sets prudential safeguards, and Article 65 governs cross-border notification. An El Salvador status does not provide those EU rights.

The FCA’s current guidance distinguishes MLR registration from the forthcoming UK authorization regime. MLR registration is not an EU passport. For all three options, banking fit depends on the institution and the actual business, rather than the jurisdiction name alone.