Fintech Laws in El Salvador
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Fintech Laws in El Salvador

Although the Fintech ecosystem is growing in El Salvador, following the global trend, there is still no specific legal framework for it. The absence of specific regulation has led these activities to develop within the free market, respecting the general financial regulations established for traditional financial participants. However, this has generated uncertainty for investors and…

Fintech Regulatory Report
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Fintech Regulatory Report

Central America is a region experiencing growth and development in the Fintech market. In recent years, some countries have enacted laws, regulations, and rules applicable to various types of financial technology services. However, other services offered by Fintech companies are regulated through general principles of law and the primary laws of each country. Nevertheless, there…

Regulatory efforts in Fintech matters in Guatemala
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Regulatory efforts in Fintech matters in Guatemala

In Guatemala, there is currently no specific legislation or regulation applicable to Fintech. However, due to the rapid growth and evolution of this ecosystem in the country, the Monetary Board, through proposals from the Banking Superintendency (SIB), has issued regulations related to the management of technological risks and even a draft law on electronic money…

Cybersecurity and personal data in the Fintech environment in Costa Rica
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Cybersecurity and personal data in the Fintech environment in Costa Rica

Currently, the issue of cybersecurity is of particular importance for companies operating in the Fintech ecosystem, which, precisely, operate at the intersection between finance, technology, and regulation, coupled with the exponential growth in the use of technological and digital means for the execution of financial transactions. Cybersecurity or information security of an entity or virtual…

Aspects on the implementation of the Electronic Payment Service Provider Entities (EPSPE) regulation in Honduras
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Aspects on the implementation of the Electronic Payment Service Provider Entities (EPSPE) regulation in Honduras

In previous months we wrote about the entry into force of the Regulation of Electronic Payment Service Providers (EPSPE). Now that the deadline has passed for companies in this area to adapt and register in the EPSPE registry, which for such purpose is kept by the Central Bank of Honduras, and based on our experience…

Digital transformation in Nicaragua with checks truncation
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Digital transformation in Nicaragua with checks truncation

On December 14, 2022, the Central Bank of the Republic of Nicaragua (“CBN”) approved Resolution CD-BCN-LXXX-1-22 “Check Truncation Regulation” (hereinafter, the “Regulation”) with the in order to regulate and establish the requirements and procedures that must be met in the process of truncation of bank checks by the participants of the Nicaraguan Interbank System of…

Legal aspects and trends in the use of electronic signature in Central America
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Legal aspects and trends in the use of electronic signature in Central America

Introduction In our different jurisdictions we saw that the application and implementation of electronic signatures was accelerated during the pandemic and in recent years, Central American countries have passed legislation that gives the same legal validity and effectiveness to electronic signatures as handwritten signatures. Today, we are beginning to hear of some precedents from regulatory…

Payment’s ecosystem and their different verticals in Nicaragua
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Payment’s ecosystem and their different verticals in Nicaragua

By: Mónica Brenes & Rodrigo Taboada The payment ecosystem is made up of the different means of payment that exist within a financial system, which may vary depending on the territory in which the user is located. According to a study conducted in 2022 by the Inter-American Development Bank (“IDB”), it is estimated that by the…

Fintech in Costa Rica: changes and perspectives
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Fintech in Costa Rica: changes and perspectives

By: Randall Barquero In 2022, the Fintech sector continued to grow in Costa Rica, and the outlook for 2023 is even more promising. In this article, we will review the recent dynamics of the sector and what we can expect in terms of regulation soon. According to the latest Fintech report published last April by…

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Cryptoassets market bill in Costa Rica

On October 24, a bill called “Cryptoassets Market Law” was submitted to the Legislative Assembly of Costa Rica, under file No. 23.415. The proposal seeks to generate greater financial inclusion and modernize Costa Rica’s digital economy through the promotion and regularization of the mining, commercialization, exchange, transfer, holding, establishment, use and taxation of cryptoassets. In…

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State of Fintech regulation in the Central American region

Regional Fintech Team The Latin American Fintech ecosystem is very dynamic and Central America is no exception. According to the IDB in its recent “Fintech in Latin America and the Caribbean” Report, the Latin American and Caribbean Fintech ecosystem has grown by 112% from 2018 to date, being led by Brazil, Mexico, Colombia, Argentina and…