Argentina is learning from El Salvador’s experience in adopting regulations on bitcoin and cryptocurrencies

JAKARTA – The Argentine government is working with El Salvador to explore experiences with Bitcoin adoption and other cryptocurrency-related activities. According to an official statement from CNV, Argentina’s securities regulator, the National Securities Commission (CNV), held a meeting with El Salvador’s National Commission for Digital Assets (CNAD) to discuss the adoption and regulation of cryptocurrencies in both countries.

At the May 23 meeting, CNV President Roberto Silva, CNV Vice President Patricia Boedo and CNAD President Juan Carlos Reyes discussed El Salvador’s experience as the first country in the world to adopt Bitcoin as legal tender in September 2021.

Officials exchange approaches and concepts for the use of cryptocurrencies in the global economy, with particular emphasis on the Bitcoin case in El Salvador.

CNV President Silva emphasized that El Salvador has not only emerged as a global leader in Bitcoin adoption, but also has an advantage in the cryptocurrency industry overall. Silva stressed the importance of the industrial knowledge discovered by CNAD, which oversees and regulates the digital asset market in El Salvador.

“We want to strengthen relations with the Republic of El Salvador, so we will explore the possibility of signing a cooperation agreement with it,” Silva said.

CNV Vice President Boedo, who visited El Salvador in March to participate in a market development meeting, emphasized the important role of El Salvador’s expertise in the cryptocurrency industry.

“Argentina is a technology pioneer, and the National Securities Commission understands and wants to work effectively with the industry and create appropriate regulations,” said Reyes, the El Salvador official.

This news comes as Argentina is making increasingly advanced moves to regulate the local cryptocurrency market and establish registration requirements for cryptocurrency companies in April. The country has been actively moving towards cryptocurrencies since pro-Bitcoin politician Javier Milei became president of Argentina in late 2023.

In late 2023, Argentine Foreign Minister Diana Mondino claimed that the government was preparing a decree legalizing the use of Bitcoin and other cryptocurrencies for payments in the country under certain conditions.

Through this cooperation, Argentina hopes to leverage El Salvador’s experience to develop effective regulations and support the development of the cryptocurrency industry in its country.

Tag: Argentina El Salvador Mata Uang Kripto