Regulation
Cardano and Entre Ríos Province Collaborate to Boost Crypto Adoption
The Cardano Foundation has entered into a new partnership in Argentina, marking a development in the national cryptocurrency sector.
THE collaboration was formalized by a document signed by Rogelio Frigerio, governor of the province of Entre Ríos, and Rafael Fraga, head of business development of the Cardano Foundation. This partnership aims to facilitate the adoption of blockchain in the Entre Ríos region.
Details on the specifics of the partnership have not yet been disclosed. However, it is expected to play a vital role in broader efforts to improve Argentina’s cryptocurrency infrastructure. The move is part of Argentina’s ongoing initiative to expand its crypto ecosystem, which includes the development of a strong regulatory framework.
Growth of the crypto ecosystem in Argentina
Argentina has increasingly focused on its crypto sector, with various initiatives aimed at strengthening the infrastructure and regulatory landscape. The engagement between Charles Hoskinson, the founder of Cardano (ADA), and Argentine President Javier Milei further highlights Cardano’s interest in the region. This interaction began with an update from Dario Epstein, director of Research For Traders, who mentioned interest in a third-generation blockchain technology company for Argentina.
Hoskinson recognized Argentina’s potential, highlighting the presence of some of the brightest minds in the industry. This sentiment reflects Cardano’s commitment to collaborating with local talents and institutions to advance blockchain technology in the country.
Argentina’s broader crypto initiatives
Argentina’s efforts to expand its crypto presence are not limited to partnerships with blockchain companies. The National Securities Commission (CNV) has joined forces with El Salvador’s National Commission for Digital Assets (CNAD). This alliance explores perspectives on Bitcoin adoption and crypto regulation, with the aim of improving crypto service delivery in Argentina.
The legitimacy of Bitcoin and other cryptocurrencies for use in contracts, established in 2023, has further strengthened Argentina’s crypto infrastructure. This initiative was led by the Minister of Foreign Relations and International Trade, Diana Modino. The current administration of President Milei has demonstrated a proactive approach towards the adoption of cryptocurrencies, with the intention of legalizing their use for payments under certain conditions.
Recent developments, including the partnership with Entre Ríos and the Argentine government’s increasing focus on cryptocurrency, could positively influence the price of Cardano (ADA). At the time of writing, ADA is trading at $0.4587, down slightly by 0.77% over the past 24 hours, according to CoinMarketCap data. Market analysts are optimistic that the price could reach the $0.5 mark in the near term.