Bitfinex has secured a new Digital Asset Service Provider licence in El Salvador, marking a significant step in its regional expansion. This licence allows Bitfinex’s main trading platform to operate legally alongside its existing Bitfinex Securities and Bitfinex Derivatives arms, both of which already hold regulatory approval in the country.
The move strengthens Bitfinex’s presence across different segments of the digital asset market, including spot trading, derivatives, and tokenised securities. El Salvador’s growing interest in crypto has paved the way for this development, with the country actively fostering a regulated environment for digital assets. Bitfinex Securities was the first international platform to gain approval under El Salvador’s Digital Assets Issuance Law back in April 2023, catering to tokenised asset issuance and trading like bonds and shares.
Following that, Bitfinex Derivatives secured its own licence in January 2025. Now, with the latest approval, Bitfinex operates all three businesses under official licences within El Salvador. Paolo Ardoino, Bitfinex’s Chief Technology Officer, highlighted El Salvador’s ambition to become a hub for regulated crypto companies and emphasized Bitfinex’s commitment to abiding by local regulations while supporting market growth.
Meanwhile, the cryptocurrency markets have been showing resilience. Bitcoin’s price recently reached a three-month high, buoyed by steady buying rather than speculative borrowing in futures markets, suggesting a more sustainable upward momentum.
Poolin Mining Faces Bankruptcy Amid Market Challenges
In stark contrast, Poolin, once one of the leading Bitcoin mining pools, has filed for bankruptcy due to prolonged financial difficulties. The company struggled following a sharp downturn in the digital asset market and faced liquidity problems that hampered customer withdrawals and operational stability.
Poolin’s bankruptcy adds to the pressure on the Bitcoin mining industry, which has seen several firms grapple with the impact of lower crypto prices and increasing operational costs. The shakeout among mining pools continues to reshape the sector’s competitive landscape.
At the same time, BitGo CEO Mike Belshe has called for revisions to the Digital Asset Tax Act. He argues that updated tax policies could foster healthier growth for digital asset companies, hinting at the regulatory challenges the industry still faces despite recent licensing progress.
Bitcoin’s price responded modestly to these developments, showing slight gains but remaining cautious amid ongoing sector turbulence.
