The framework
A single authority, a public registry anda verifiable license.
El Salvador wrote a dedicated law for digital assets and created a specialized regulator to apply it, instead of adapting its financial regulation. That is why an issuance has rules, supervision and registered providers.
A dedicated framework, with a specialized regulator.
The regulator
The CNAD holds what other jurisdictionsdivide among several agencies.
It registers providers, authorizes issuances and supervises compliance. Its provider registry is public, so a counterparty's status can be checked in a minute, whatever that counterparty declares.
PSAD-0068
SATS Capital's registration with the CNAD as a Digital Asset Service Provider, Structurer category, since December 1, 2025.
0%
Statutory rate under Article 36 on income, municipal taxes and capital gains derived from digital assets.
1st
El Salvador is ranked first in the Coincub Crypto Asset Risk Report 2025, ahead of Switzerland, Japan and Singapore.
Scope of our authorization
The Structurer category authorizes the evaluation, structuring and administration of investment products. It does not authorize an exchange, a trading platform, placement, transfer, custody, order handling or derivatives. The authorization is specific to the entity and non-transferable, so it does not cover subsidiaries, partners or counterparties.
Verify in the CNAD public registry
In practice
The frameworkin practice.
An issuance follows a written procedure and an authority applies it, instead of a gray area.
An institutional investor can verify the provider in a public registry before committing capital.
The tax treatment is statutory and does not depend on a discretionary ruling.
Assets and counterparties can sit in other countries. The vehicle is what is anchored in El Salvador.
What the framework does not solve
A clear framework does not make a weak transaction financeable. Sound structuring is necessary and is not enough on its own. A transaction closes when the instrument withstands an investor's due diligence and reaches the right desk.
Sources