The small Central American nation, El Salvador, has released the first regulatory draft for banks under the Bitcoin law, which will come into force on 7th September 2021.The drafted proposal calls out banks to take the Central Bank’s authorization for offering Bitcoin-related services. Besides, the banks are also required to outline risks that the customer may face and plan to overcome them. While ensuring KYC, the payment service providers should offer bitcoin-to-dollar convertibility and vice versa.