The government of El Salvador has proposed to include bitcoin and other cryptocurrencies in its investment banking industry

The government of El Salvador has put forward an initiative to accelerate the inclusion of bitcoin and other cryptocurrencies in its investment banking sector. The banking law reforms submitted to the National Assembly will allow private investors to form banks to provide bitcoin and stablecoins services to established investors.
If passed, the initiative will allow the creation of these banks that can offer different services, including economic risk management, purchase of financial products, investment management, hedging and other financial derivatives. These services will support any legal tender in El Salvador, such as the U.S. dollar and bitcoin. In addition, the bill explicitly supports stablecoin-based instruments, opening the door to crypto-based investment vehicles. Still, the requirements for setting up private investment banks are high: these companies must have a capital of 50 million dollars at the time of their establishment.
Moreover, the banks will not serve all Salvadorans, as their services will focus on "professional investors" who must prove they own at least $250,000 in assets, pass a knowledge test for banks, or prove they own $500,000.