El Salvador regulator to investigate government purchases of Bitcoin and ATMs

On September 17, Cristosal, a human rights and transparency organization in El Salvador, announced that El Salvador’s public administration supervision agency will begin investigating complaints about the government’s purchase of Bitcoin and crypto ATMs. Cristosal requires it to audit the authorization process for purchasing Bitcoin in accordance with the newly enacted law.

The regulator has the power to impose administrative and asset sanctions and initiate criminal proceedings with the Attorney General’s Office.

Cristosal's complaint targets six members of the Bitcóin Trust board, including members of the Ministry of Finance and the Ministry of Economy, as well as members of the Secretariat of Commerce and Investment. "After the admission of the complaint, the organization will proceed with the legal analysis report and promptly transmit it to the General Directorate of Audit Coordination," the Accounting Court said in an official document. An anonymous official confirmed that the complaint had been accepted.

In addition to sanctioning officials, the Accounts Court is also authorized to file a notice with the Attorney General's Office for the purpose of initiating criminal proceedings if irregularities are found during investigations.