El Salvador and Argentina signed an agreement to work together on crypto regulation and innovation.
El Salvador is in talks with 25 other countries to form similar partnerships.
With Trump being elected as the President of the US, his pro-crypto stance is acting as a major factor for several other countries to explore the industry. Vancouver has already passed a motion to explore the possibilities of becoming a Bitcoin-friendly city. On the other hand, El Salvador’s Bitcoin adoption as a legal tender in 2021 is a well-known fact.
As a favorable environment for crypto is expanding over the globe, El Salvador took this opportunity to form a partnership with Argentina to collaborate on crypto regulation and innovation. The country is also in talks with several other countries to form similar partnerships and to enhance crypto adoption.
El Salvador’s Digital Asset Manager, Juan Carlos Reyes recently announced the collaboration agreement with Argentina. While Argentina is known for its innovation in technological development, El Salvador is a step forward in regulating digital assets. With this partnership both of the countries are going to benefit from each other’s strength while fostering the crypto industry in Latin America.
Juan Carlos Reyes is also a crypto regulator and president of National Commission for Digital Assets (CNAD). He stated that their major goal is to form collaborative partnerships with nations across the world so that they can promote digital asset adoption and innovation.
Trump’s Pro-Crypto Stance Leads to Countries Focusing on Crypto Adoption
The ongoing bull run is playing its part, gaining the attention of industry leaders and government officials. At the same time, Trump appointed David Sacks to develop a clear regulatory framework on crypto and AI. Both of the factors are contributing to several countries focusing on crypto adoption.
The Vancouver mayor proposed a motion to become a Bitcoin-friendly city around a week back. And, the motion was passed today with 6 council members voting in favor of it. The major aim behind Vancouver mayor’s proposal is to safeguard the city’s reserves as fiat currency is facing several challenges, leading to economic instability. The Vancouver city staff are directed to explore potential benefits and challenges of adopting Bitcoin and develop a framework by Q1 2025.
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