According to ChainCatcher, the government of El Salvador has proposed an initiative to reform the current banking law, introducing a new type of bank that can lend Bitcoin and crypto services. The initiative will allow private investors to form banks to provide Bitcoin and stablecoin services to sophisticated investors.
If passed, the plan would allow the creation of these banks, which could offer different services, including economic risk management, purchase of financial products, investment management, hedging and other financial derivatives. These services would support any legal currency in El Salvador, such as the U.S. dollar and Bitcoin.