Argentinian authorities are looking to work with Salvadoran officials, who have been open to bitcoin, to bolster their adoption of the leading digital asset.
According to an official report from Argentina’s National Securities Commission (CNV), CNV President Roberto Silva and Vice President Patricia Boedo held a meeting last week with the President of the El Salvador National Digital Asset Commission (CNAD), Juan Reyes. During the meeting, the two sides discussed the Central American country’s experience and practices in adopting Bitcoin.
Argentina Looks to El Salvador for BTC Adoption Strategy
The report revealed that Silva and Boedo discussed the growing application of cryptocurrencies in the global economy and exchanged views with Reyes on El Salvador’s development in this field.
“El Salvador has emerged as one of the leading countries in the use of Bitcoin and the world of crypto assets in general,” Silva said. “We want to strengthen our ties with the Republic of El Salvador, so we intend to explore the possibility of signing a cooperation agreement with them.”
Looking back at history, El Salvador became the first country in the world to make Bitcoin a legal tender in 2021. Since then, the country has launched a series of Bitcoin-related projects, including issuing Bitcoin bonds, using geothermal energy for Bitcoin mining, and launching a program to obtain citizenship through Bitcoin investment. El Salvador has also adopted a strategy that allows the country to accumulate and hold Bitcoin. As of mid-May, El Salvador has successfully mined 474 $BTC using volcanic energy, holding a total of more than 5,750 BTC.
El Salvador has already established a National Digital Asset Commission (CNAD) to regulate and promote its cryptocurrency businesses, and Argentina is considering similar measures to promote growth and regulation in this emerging sector in the country.
CNV Vice President Boedo agreed with Silva's remarks and expressed his great pleasure at the opportunity to exchange experiences during his visit to this country. "It is essential for me to continue strengthening ties with a country that is a pioneer on this issue and has great experience in this field," he said.
Embrace Bitcoin
Argentina has become more welcoming to Bitcoin as the years go by. Last November, Bitcoin supporter and far-right libertarian Javier Milei won Argentina’s presidential runoff election. Milei’s victory brought hope to a country struggling with economic chaos and high inflation.
A month later, Argentina’s foreign minister legalized Bitcoin, allowing it to be used in the country for legally binding contracts and payments. In addition, Argentina also established a new Virtual Asset Service Provider Registry, an agency specifically established to regulate the local cryptocurrency industry.
Conclusion:
Through this series of exchanges and cooperation intentions, Argentina has demonstrated its determination to actively integrate into the global trend of cryptocurrency and promote domestic economic innovation. Drawing on El Salvador's advanced experience in Bitcoin adoption, Argentina is expected to take important steps in building Bitcoin-friendly policies and regulatory frameworks.
With the confirmation of the legality of Bitcoin by the Argentine Minister of Foreign Affairs and the establishment of the Virtual Asset Service Provider Registry, Argentina has not only paved the way for the adoption of cryptocurrencies at the policy level, but also provided regulatory guarantees for the healthy development of the cryptocurrency industry.
This process not only reflects the Argentine government's openness to economic diversification and financial innovation, but also provides a window for other countries to observe and learn how to effectively integrate Bitcoin and cryptocurrency at the national level. As Argentina continues to make progress in Bitcoin adoption, we can expect it to become an important player in the cryptocurrency space in Latin America and even the world. #阿根廷 #比特币采用 #萨尔瓦多