El Salvador has granted investment banks the ability to hold Bitcoin, a move that could accelerate financial innovation within the country. The new law allows banks to apply for a Digital Asset Service Provider license. This policy faces criticism from some who feel it primarily benefits institutions while lacking clarity on broader public impact. Juan Carlos Reyes, Chairman of the El Salvador’s Digital Assets Commission, announced this law aiming to attract foreign investment. While proponents believe this change fosters financial innovation, critics argue that existing policies favor institutional interests over the general public, leaving questions about the ultimate societal benefits of these reforms. El Salvador’s move follows its 2021 adoption of Bitcoin as legal tender, a step towards exploring and establishing regulatory frameworks for digital assets.