Bitcoin regulations in El Salvador and their potential impact on legal regulation in Ecuador.

Abstract

The purpose of this research lies in evaluating the possibility that El Salvador can serve as a legal model for the regulation of bitcoin in the Ecuadorian context. This study is based on an exhaustive literature review and is supported by documentary analysis, complemented by a quantitative approach to illustrate the development of bitcoin in El Salvador after its adoption as legal tender, and to analyze the existing regulatory framework in That country. These results provide a framework for Ecuador in terms of legal and economic aspects linked to this cryptocurrency, and that the use and investments in bitcoin have suffered a significant decrease.