埃爾·薩爾瓦多（El Salvador）對比特幣的大賭注擊中了一個障礙：它註冊的幾乎所有加密公司實際上都沒有根據規則發揮作用。

根據El Mundo的最新報告，在El Salvador註冊的比特幣（BTC）服務提供商近90％均未運行，該報告引用了中央儲備銀行的數據

El Salvador's bold experiment in making Bitcoin legal tender has hit a snag: almost all of the crypto firms it registered aren't actually playing by the rules.

薩爾瓦多（El Salvador）大膽地製作比特幣法律招標的實驗擊中了一個障礙：它註冊的幾乎所有加密公司實際上都沒有根據規則發揮作用。

A recent report by El Mundo, citing data from the Central Reserve Bank, found that nearly 90% of Bitcoin (BTC) service providers registered in El Salvador are not operating.

埃爾·蒙多（El Mundo）最近的一份報告引用了中央儲備銀行的數據，發現在薩爾瓦多註冊的近90％的比特幣（BTC）服務提供商沒有運行。

Out of 181 companies officially registered to offer Bitcoin services in the country, 161 are marked as "non-operating," which translates to about 89% of the total. Only 20 firms are still active. These include the government-backed Chivo Wallet, among others.

在該國正式註冊以提供比特幣服務的181家公司中，有161個被標記為“非運營”，這轉化為總數的89％。只有20家公司仍然活躍。其中包括政府支持的Chivo錢包等。

At least 22 of the inactive providers may have failed to meet the regulatory standards outlined in Article 4 of the Bitcoin Law Regulation.

至少有22個非活動提供者可能未能符合《比特幣法律法規》第4條中概述的監管標準。

This article required crypto businesses to operate with "high standards of integrity and honesty." Providers were supposed to have anti-money laundering programs, clear records of assets and liabilities, and cybersecurity systems adapted to the nature of the services offered.

本文要求加密貨幣企業以“高標準的誠信和誠實標準”運營。提供者應該有反洗錢計劃，資產和負債的清晰記錄以及適合提供服務性質的網絡安全系統。

It’s unclear how many others are behind on compliance, or whether enforcement is underway.

目前尚不清楚其他有多少其他人在合規性上有多少次，或者是否正在進行執法。

Breaking paradigms of past

過去的範式

The numbers highlight the current state of Bitcoin in El Salvador. Back in 2021, the country became the first in the world to make Bitcoin legal tender. The move drew global headlines and crypto industry praise, but also concern from traditional financial institutions.

這些數字突出顯示了薩爾瓦多的當前比特幣狀態。早在2021年，該國就成為世界上第一個製作比特幣法律招標的國家。此舉吸引了全球頭條新聞和加密行業的讚譽，但也關注傳統金融機構。

President Nayib Bukele, a self-described “CEO of El Salvador,” argued that the policy would attract tech investment, lower remittance costs, and bring banking services to the unbanked.

自稱為“薩爾瓦多首席執行官”的總統納伊布·布克勒（Nayib Bukele）認為，該政策將吸引技術投資，降低匯款成本，並將銀行服務帶給未銀行賬戶。

The law made Bitcoin legal tender alongside the U.S. dollar. It also required all businesses to accept it as payment, unless they lacked the means to do so. The government launched its own digital wallet, Chivo, and handed out a $30 bonus in BTC to citizens who signed up.

該法律與美元並肩投標。除非缺乏手段，否則它還要求所有企業接受它作為付款。政府推出了自己的數字錢包，Chivo，並向BTC發出了30美元的獎金，向簽約的公民分發了獎金。

Still, things didn’t go smoothly. The wallet faced technical issues, adoption was limited, and a year later, studies suggested that most Salvadorans had stopped using it altogether.

不過，事情並沒有順利進行。錢包面臨技術問題，採用有限，一年後，研究表明，大多數薩爾瓦多人都完全停止使用它。

In a commentary for crypto.news, Hon Ng, chief legal officer of cryptocurrency exchange Bitget, which also secured crypto license in El Salvador, agreed with the data from El Mundo, saying it “highlights some significant challenges in the rollout of the Bitcoin Law.”

在對加密貨幣交易所Bitget的首席法律官Hon Ng的評論中，該官員也獲得了薩爾瓦多的加密許可證，同意了El Mundo的數據，他說“突出了“比特幣法律推出的一些重大挑戰”。”

“With over 88% of Bitcoin-related companies still non-operational, it’s evident that there are infrastructural and institutional hurdles to address. While the legislation shows El Salvador’s vision to become a ‘crypto hub,’ further regulatory development may be required to effectively support the local ecosystem.”

“由於超過88％的與比特幣相關的公司仍非運營，因此很明顯，基礎設施和機構障礙需要解決。雖然立法表明，薩爾瓦多的願景可能需要進一步的監管發展，但可能需要進一步的監管發展以有效地支持當地生態系統。”

Hon Ng

恩格

IMF’s opposition

IMF的反對

By 2022, the Bitcoin Law had become a major sticking point in negotiations with the International Monetary Fund — an essential financial backer for El Salvador — as the country sought a $1.3 billion agreement. The IMF, in turn, made no secret of its concerns over the policy.

到2022年，該國尋求13億美元的協議，到2022年，比特幣法律已成為與國際貨幣基金組織（El Salvador）的重要財務支持者談判的重點。反過來，國際貨幣基金組織毫不掩飾其對政策的關注。

It warned of risks to financial stability, consumer protection, and the country’s overall fiscal health. In a public statement, the IMF recommended that El Salvador “narrow the scope of the Bitcoin law by removing Bitcoin’s legal tender status.”

它警告了財務穩定，消費者保護以及該國總體財政健康的風險。國際貨幣基金組織在公開聲明中建議薩爾瓦多“通過刪除比特幣的法定招標身份來縮小比特幣法律的範圍”。

For a while, the Bukele administration resisted. But eventually, the country’s Legislative Assembly introduced quiet but significant changes. The state was no longer required to be involved in Bitcoin transactions. Businesses were no longer required to accept BTC. In effect, Bitcoin stopped being enforced as legal tender, although the government didn’t say it in so many words.

一段時間以來，布克利管理局抵制。但最終，該國的立法議會引入了安靜但重大的變化。不再需要該州參與比特幣交易。不再需要企業接受BTC。實際上，比特幣不再被執行為法定招標，儘管政府並沒有用這麼多話這樣說。

Still, the government hasn’t backed away from Bitcoin completely. Quite the opposite. President Bukele has continued to publicly announce Bitcoin purchases, and says the country now holds more than 6,100 coins — valued at over $500 million. He recently claimed the portfolio was in the green. But the exact source of funding remains murky. Critics worry that the state may still be using public funds for purchases, something the IMF had reportedly asked El Salvador to avoid.

儘管如此，政府尚未完全退出比特幣。相反。布克利總統繼續公開宣布比特幣購買，並說該國現在擁有6,100多枚硬幣，價值超過5億美元。他最近聲稱投資組合在綠色。但是確切的資金來源仍然模糊。批評家擔心該州可能仍在使用公共資金進行購買，據報導，國際貨幣基金組織要求埃爾·薩爾瓦多避免這種情況。

Now, with the majority of registered Bitcoin providers inactive, it’s unclear how much of the country’s crypto infrastructure remains functional. The registry data doesn’t explain why so many firms have gone quiet.

現在，由於大多數註冊的比特幣提供商都不活躍，目前尚不清楚該國的加密基礎設施中有多少仍然有效。註冊表數據無法解釋為什麼這麼多公司變得安靜。

Bitget’s Hon Ng told crypto.news that the low low rate of active providers might be a “combination of several factors, with a significant issue being the gap between the legal framework and the actual business environment in El Salvador.”

Bitget的Hon Ng告訴Crypto.news，低率的活躍提供者可能是“幾個因素的組合，重大問題是法律框架與El Salvador的實際商業環境之間的差距。”

“Although the Bitcoin Law is intended to be progressive, some aspects may not fully appreciate how startups and mid-sized financial service providers operate in the country.”

“儘管《比特幣法》的目的是進步，但某些方面可能無法完全欣賞初創企業和中型金融服務提供商如何在該國運營。”

Hon Ng

恩格

Ng went further to note that the Bitcoin Law mandates that companies establish tailored cybersecurity programmes, adding that many crypto firms, especially small-medium sized firms, “lack the resources to meet these standards, particularly with the current inertia in user demand.”

NG進一步指出，比特幣法規定公司建立量身定制的網絡安全計劃，並補充說，許多加密公司，尤其是中小型公司，“缺乏滿足這些標準的資源，尤其是當前的用戶需求中的慣性。”

“This, combined with regulatory ambiguity and limited mainstream adoption, can lead to situations where

“這加上監管歧義和主流採用有限，可能導致情況