Regulation
Argentina Learns from El Salvador’s Experience in Adopting Bitcoin and Crypto Regulations
JAKARTA – The Argentine government is working with El Salvador to study the experience of adopting Bitcoin and other crypto activities. The National Securities Commission (CNV), Argentina’s securities regulator, held a meeting with El Salvador’s National Commission for Digital Assets (CNAD) to discuss crypto adoption and regulation in both country, according to an official announcement from the CNV.
In a meeting held on May 23, CNV President Roberto Silva, CNV Vice President Patricia Boedo, and CNAD President Juan Carlos Reyes discussed El Salvador’s experience as the first countries in the world to adopt Bitcoin as legal tender in September 2021.
Officials exchange approaches and concepts on the use of cryptocurrencies in the global economy, particularly focusing on the case of Bitcoin in El Salvador.
President CNV Silva highlighted that El Salvador has not only become a global leader in Bitcoin adoption, but is also superior in the cryptocurrency industry in general. Silva highlighted the importance of the industrial knowledge discovered by the CNAD, which oversees and regulates the digital assets market in El Salvador.
“We want to strengthen relations with the Republic of El Salvador and, therefore, we will explore the possibility of signing a cooperation agreement with them,” Silva said.
CNV Vice President Boedo, who visited El Salvador to participate in a market development meeting in March, highlighted the important role of El Salvador’s expertise in the crypto industry.
“Argentina is a pioneer in technology and the National Securities Commission understands and wants to work effectively with this industry and create appropriate regulations,” said Reyes, the Salvadoran official.
This news comes as Argentina makes further progress in regulating the local cryptocurrency market and establishing registration requirements for cryptocurrency companies in April. The country has been actively moving towards cryptocurrencies since Bitcoin-supporting politician Javier Milei became Argentina’s president in late 2023.
At the end of 2023, Argentine Foreign Minister Diana Mondino claimed that the government was preparing a decree to legalize the use of Bitcoin and other cryptocurrencies in the country for payments under certain conditions.
With this collaboration, Argentina hopes to take advantage of El Salvador’s experience to develop effective regulations and support the development of the crypto industry in its country.
Label:
Argentina
El Salvador
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