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Argentina Collaborates with El Salvador to Enhance Cryptocurrency Adoption and Regulation

The Argentine government is collaborating with El Salvador to gain insights from its experience with Bitcoin adoption and other cryptocurrency activities.

The National Securities Commission (CNV) of Argentina met with El Salvador’s National Commission of Digital Assets (CNAD) to discuss crypto adoption and regulation in both countries, according to an official CNV announcement.

On May 23, CNV president Roberto Silva, vice president Patricia Boedo, and CNAD president Juan Carlos Reyes reviewed El Salvador’s experience as the first nation to make Bitcoin legal tender in September 2021.

The meeting focused on exchanging views and strategies regarding cryptocurrency use in global economies, with particular attention to El Salvador’s Bitcoin implementation.

CNV president Silva noted that El Salvador is not only a global pioneer in Bitcoin adoption but also a leader in the wider cryptocurrency sector.

He emphasized the value of the insights provided by CNAD, which manages and regulates El Salvador’s digital asset market. Silva stated:

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“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.”

CNV vice president Boedo, who visited El Salvador in March for discussions on market development, highlighted the importance of El Salvador’s expertise in the crypto industry.

“Argentina is a pioneer in technology and the National Securities Commission understands and wants to work with the industry efficiently and create appropriate regulation,” stated El Salvador’s official Reyes.

This development comes as Argentina advances in regulating its local cryptocurrency market, having implemented registration requirements for crypto firms in April.

The country has been increasingly embracing cryptocurrency since the election of Bitcoin-friendly politician Javier Milei as president in late 2023.

Additionally, in late 2023, Argentina’s foreign affairs minister, Diana Mondino, announced that the government was preparing a decree to legalize the use of Bitcoin and other cryptocurrencies for payments under specific conditions.

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