27 May

The National Securities Commission of Argentina (CNV) has confirmed discussions with El Salvadoran regulators about Bitcoin (BTC) adoption. According to an official notice from the Argentinian CNV and a report from Criptonoticias, senior officials recently met with the head of El Salvador’s National Digital Assets Commission. The countries are considering potential cooperation agreements on digital assets-related matters.

Argentinian Regulators discuss Bitcoin; is El Salvador a "Example"?

To "learn how" the government controls Bitcoin, senior CNV officials traveled to El Salvador.

According to Criptonoticias, the countries were forming a "alliance, with Bitcoin at the center of the conversation."

Vice President Patricia Boedo of the regulatory body spoke with CNV President Roberto Silva.

The National Commission for Digital Assets (CNAD) President of El Salvador, Juan Carlos Reyes, met with the two of them.

Authorities in Argentina expressed their want to "learn more" about the Salvadoran government's experience implementing Bitcoin as legal money. Silva remarked:

"El Salvador has become a prominent nation in the realm of cryptocurrency assets, not only with regard to Bitcoin usage but also in general." 

The creation of the CNAD was commended by Silva to the Salvadoran administration. According to Silva, the country possessed "experience that is very valuable for the CNV at this moment."

"We wish to improve our relations with El Salvador. Thus, we shall investigate the potential for partnering with [the Salvadoran administration]."

In March of this year, Boedo traveled to El Salvador for initial "technical meetings."

"Reconciliation" Gains for the Bitcoin Community?

The CNV has verified that she discussed "important components" of Bitcoin "regulation" with her peers as well.

Reyes stated that the CNV "wants to work with the [Bitcoin and digital assets] industries efficiently and create appropriate regulation," noting that Argentina "is a pioneer in the technology sector."

Despite significant discussion about President Javier Milei’s pro-Bitcoin stance, Buenos Aires has seemingly "caved" to IMF pressure regarding crypto regulation. The country has announced numerous regulations related to crypto exchanges in an effort to appease the IMF and secure financial packages.

However, Criptonoticias reported that the recent "rapprochement of Argentina and El Salvador" is "opening up the possibility" that the new Argentinian regulations will be "friendly" and "relatively unrestrictive."

May 2024, Cryptoniteuae

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