Argentina meets with El Salvador to discuss Bitcoin adoption and regulation – DiarioBitcoin
By Hannah Perez
The Argentine CNV met with the CNAD, the cryptocurrency regulator of El Salvador. The central topic of the meeting was Bitcoin and cryptocurrencies. They will look for the opportunity to sign a collaboration.
***
- Argentina learns in depth about the case of Bitcoin adoption in El Salvador
- Directors of the CNV in Argentina met with officials of the Salvadoran CNAD
- They will seek to forge alliances to advance cryptocurrency regulation
Bitcoin was the central topic of a meeting between the governments of Argentina and El Salvador.
Salvadoran officials met with Argentine government officials to exchange concepts and share details regarding the case of cryptocurrency adoption in El Salvador.
In particular, the directive acts of the National Securities Commission (CNV) of Argentina, which is part of the country’s Ministry of Economy, and the National Commission of Digital Assets (CNAD) of El Salvador met. The meeting served, among other things, for officials to discuss aspects of the adoption and regulation of cryptocurrencies at the national level.
“El Salvador has emerged as one of the leading countries, not only in the use of Bitcoin, but has also stood out in the world of crypto assets. Has created a specific commission“commented Roberto E. Silva, president of the CNV, referring to the CNAD.
In September 2021, the Central American country became the first in the world to recognize Bitcoin as its legal tender. The CNAD is the regulatory body for everything related to digital assets and digital financial instruments, but the Financial Superintendence and the Central Reserve Bank of El Salvador also act as regulators.
Bitcoin It is a topic of discussion between countries
This is not the first meeting held by both countries that has Bitcoin as the focus of the discussion. In March, the vice president of the CNV visited El Salvador to participate in technical meetings and learn about key elements of the regulation, as she remembers. Ambit.
“I want to highlight the experience of El Salvador regarding the world of crypto assets. I had the opportunity to exchange experiences during the visit to that country and it seems essential to me to continue strengthening ties with a pioneering Republic on the subject, and one that has vast experience on the subject.“added Patricia Boedo, vice president of the CNV.
On the Salvadoran side, Reyes declared that Argentina has been a pioneer in technology and that the CNV understands and “wants to work with the industry efficiently and create appropriate regulation.”
“We want to strengthen ties with the Republic of El Salvador and therefore, we are going to explore the possibility of signing collaboration agreements with them.”Silva said, emphasizing the intention behind these efforts.
Argentina and its new cryptocurrency regulation
The initiative comes at a crucial time as Argentina moves forward with new regulation for digital assets.
In mid-March, the Argentine Senate approved a modification to the Money Laundering Prevention Law that, among its provisions, will require cryptocurrency exchanges and trading platforms to register with national regulators. The sanction of the Law and its promulgation occurred within the framework of a visit by FATF.
The reform establishes new powers for the CNV, designating it as the supervisor of cryptocurrency exchanges. In addition to supervising, the body will exercise the functions of regulation, inspection, supervision and sanction of Virtual Asset Service Providers (PSAV), being in charge of the creation of the new company registry.
It is worth noting that Argentina appears as one of the nations in the region with the highest adoption of cryptocurrencies. According to the adoption rate of Chainalysisthe South American country is at number 15 in the global ranking of highest adoption of digital currencies, and at number 2 after Brazil in Latin America.
Article by Hannah Estefanía Pérez / DailyBitcoin
Edited image of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
