El Salvador, the first country to make Bitcoin legal tender, is partnering with Argentina to create digital asset regulations. This move is part of El Salvador’s plan to collaborate with over 25 countries, sharing expertise to build effective crypto regulations in Latin America.
On December 11, Juan Carlos Reyes, president of El Salvador’s National Commission of Digital Assets (NCDA), and Roberto Silva, president of Argentina’s National Securities Commission (CNV), signed a mutual agreement. This focuses on regulation and innovation within the digital asset sector.
El Salvador pioneering partnership with other nations on crypto
Reyes mentioned the potential of this collaboration, saying Argentina’s innovative blockchain industry combined with El Salvador’s technological expertise will result in a “highly productive partnership.”
Argentina already has companies registered in El Salvador, demonstrating this alliance’s practical benefits. Reyes highlighted that El Salvador’s three years of experience in digital asset regulation provide a strong advantage in guiding other countries regarding regulations in Crypto as many are adopting currently.
El Salvador isn’t stopping with Argentina. Talks are underway with over 25 countries for similar agreements. Reyes stressed the importance of cross-border collaboration to elaborate crypto adoption and global regulation.
He said, “Our experience has shown that cross-border knowledge sharing is essential for creating a safe and effective regulatory environment, and we encourage other regulators to prioritize this approach.”
El Salvador has assembled a 20-member team of Bitcoin and crypto experts to ensure effective collaboration. Their goal is to assist other nations in establishing clear and effective regulations to prevent scams and money laundering in the industry.
While El Salvador has faced criticism for its bold Bitcoin initiatives, such as making the cryptocurrency legal tender, the country has gained valuable experience. This knowledge is now being leveraged to support other nations in building well-regulated crypto frameworks.
El Salvador is nearing final agreements with two more countries as part of a broader strategy. Reyes believes sharing experiences across borders is essential to creating a safe and effective environment for digital assets.
Argentina’s role in the partnership
Argentina’s President Javier Milei has supported cryptocurrencies in tackling inflation, making the country an ideal partner. Reyes praised Argentina’s high adoption rate and innovative blockchain ecosystem, calling it a significant reason for the collaboration.
This agreement sets the stage for further regional cooperation, innovation, and knowledge-sharing to build a strong digital asset industry in Latin America.
As El Salvador forms global partnerships, including with Argentina, to strengthen crypto adoption and establish itself as a leader in digital asset regulation and innovation.
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