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El Salvador and Argentina Regulators Sign Agreement to Help Develop Crypto Industry
Regulators from both countries are looking to collaborate to foster crypto innovation.
Updated Dec 10, 2024, 9:29 p.m. Published Dec 10, 2024, 9:22 p.m.
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What to know:
- Regulators from El Salvador and Argentina have signed an agreement to help develop the crypto industry in both countries.
- The agreement will help El Salvador, which famously embraced bitcoin as a currency, broaden its footprint by forging strategic partnerships, CNAD President Juan Carlos Reyes told CoinDesk.
- The two regulatory agencies will be sharing knowledge and experience in the matter of crypto regulation.
El Salvador and Argentina are partnering to help develop the crypto industry in Latin America.
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Juan Carlos Reyes, El Salvador’s top crypto regulator and president of the Comisión Nacional de Activos Digitales (CNAD), and Roberto Silva, the president of the Comisión Nacional de Valores of Argentina (CNV), on Tuesday signed an agreement for the two countries to collaborate on crypto regulation.
“At CNAD we have two core objectives, when it comes to international collaboration,” Reyes told CoinDesk in an email. “To share our expertise with international partners, enabling them to harness the benefits of a well-regulated industry. … [And] to broaden the international footprint of our regulated companies by forging strategic partnership agreements with nations worldwide.”
“This landmark agreement with Argentina holds particular significance, given the country's standout reputation for pioneering innovative technologies and its remarkable rate of adoption,” Reyes added.
While the details of the deal are still unknown, Reyes stated on LinkedIn that the agreement aimed to enable the two regulatory bodies to share knowledge and experience, to spur crypto innovation.
“The joining of efforts between El Salvador and Argentina will lay the foundations for greater regional cooperation, promoting a favorable environment for the development of the digital asset industry,” he wrote.
Reyes previously told CoinDesk that El Salvador had a head start on most countries in terms of crypto regulation thanks to President Nayib Bukele making bitcoin legal tender in the Central American nation.
Argentinian President Javier Milei, meanwhile, has been ideologically open to cryptocurrencies and bitcoin and is popular among Argentinian crypto developers for his inflation-mitigating policies.
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