Argentine regulators talk about Bitcoin with El Salvador authorities

Last updated: May 26, 2024 11:00 pm EDT | 2 minutes of reading

Argentine regulators have been talking to their counterparts in El Salvador about Bitcoin (BTC) adoption, confirmed the Argentine National Securities Commission (CNV) this weekend.

Per an official statement from the Argentine CNV and a report of CryptonewsSenior officials met with the head of El Salvador’s National Digital Assets Commission last week.

Officials said countries are “evaluating possible cooperation agreements” on issues related to digital assets.

Is El Salvador an ‘Example’ While Argentine Regulators Talk About Bitcoin?

Senior CNV officials visited El Salvador to “learn how” the government regulates BTC.

Criptonoticias noted that the nations were forging an “alliance, with Bitcoin at the center of the conversation.”

The president of the CNV, Roberto Silva, was accompanied by the vice-president of the regulator, Patricia Boedo, in the negotiations.

The duo met with Juan Carlos Reyes, president of El Salvador’s National Digital Assets Commission (CNAD).

Argentine authorities said they were interested in “learning more” about the Salvadoran government’s experience with adopting Bitcoin as legal tender. Silva said:

“El Salvador has emerged as one of the leading countries, not only in the use of Bitcoin, but also in [wider] world of crypto assets.”

Silva praised the Salvadoran government for creating the CNAD. He said the nation has “experience that is very valuable to the CNV at this time.” Silva explained:

“We want to strengthen ties with El Salvador. Therefore, we will explore the possibility of signing collaboration agreements with [the Salvadoran government].”

Boedo visited El Salvador in March this year for preliminary “technical meetings”.

‘Approaching’ Boost for Bitcoin Community?

CNV confirmed that it has also spoken to its colleagues about “key elements” of Bitcoin “regulation.”

Reyes commented that Argentina “is a pioneer in the technology sector”. He added that the CNV “wants to work with the [Bitcoin and digital assets] industries efficiently and create appropriate regulations.”

The move could be a form of comfort for Argentina’s Bitcoin and crypto communities.

Despite much talk about President Javier Milei’s pro-Bitcoin views, Buenos Aires has apparently “caved in” to IMF pressure over crypto regulation.

The nation has announced a series of regulations related to crypto exchange in an attempt to appease the IMF and guarantee financial packages.

However, Criptonoticias noted that “the rapprochement between Argentina and El Salvador” was “opening up the possibility” that the new Argentine regulations would be “friendly” and “relatively unrestrictive.”

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