Originally published on: December 12, 2024
El Salvador has taken a bold step in strengthening its digital asset industry by signing a collaboration agreement with Argentina. This move demonstrates the Bitcoin-friendly nation’s commitment to fostering innovation in the crypto space. In addition to Argentina, El Salvador is in talks with over 25 other countries to explore similar partnerships.
The agreement, signed by 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), aims to enhance collaboration and training in the digital asset sector. Reyes highlighted the potential of combining Argentina’s strong blockchain industry with El Salvador’s technological expertise to create a mutually beneficial partnership.
With a three-year head start in digital asset regulation, El Salvador seeks to leverage its experience to refine its regulatory framework and gain insights into the global digital assets market. Through collaborations like the one with Argentina, El Salvador aims to foster information sharing and promote a safer regulatory environment for digital assets.
To facilitate partnerships with other countries, El Salvador has assembled a team of over 20 experts in Bitcoin and cryptocurrencies. This team will play a crucial role in expanding El Salvador’s network of collaborative agreements and promoting knowledge sharing on a global scale.
Reyes emphasized the importance of timely regulatory action and adherence to international standards set by entities like the Financial Action Task Force (FATF). He encouraged regulators worldwide to prioritize cross-border collaboration in creating a safe and effective regulatory environment for digital assets.
As El Salvador continues to forge new partnerships with other nations, the country remains committed to sharing its expertise and resources to support a thriving global digital asset industry. By prioritizing collaboration and knowledge sharing, El Salvador aims to set a positive example for regulators around the world.
