Only 20 out of 181 Bitcoin service providers registered with El Salvador’s central bank are currently operational, which represents just 11% compliance with the country’s legal requirements under its Bitcoin Law. Data from the Central Reserve Bank of El Salvador indicates that most providers are classified as non-operational due to failures in meeting obligations such as maintaining an Anti-Money Laundering (AML) program, accurately recording assets, and implementing necessary cybersecurity measures. Among operational firms are well-known entities, including the state-backed Chivo Wallet. El Salvador adopted Bitcoin as legal tender in 2021, intending to integrate it into its economy alongside the US dollar. Recently, the country engaged the International Monetary Fund (IMF) for a $1.4 billion loan, leading to speculation regarding a potential rollback in Bitcoin's legal status by the end of April 2025. This aligns with ongoing discussions about tax payments in US dollars and limiting Bitcoin usage in public institutions.

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