According to reports from CoinDesk, El Salvador and Argentina are collaborating to promote the development of the cryptocurrency industry in Latin America.
Juan Carlos Reyes, Chairman of the National Digital Assets Council (CNAD) of El Salvador, and Roberto Silva, Chairman of Argentina's National Securities Commission (CNV), signed an agreement on Tuesday for the two countries to collaborate on cryptocurrency regulation.
In an email sent to CoinDesk, Reyes stated that the CNAD has two core goals regarding international cooperation: first, to share its expertise with international partners to enable them to benefit from a well-regulated industry; and second, to expand El Salvador's international influence among regulated companies through strategic partnerships with countries around the world.
Reyes added that given Argentina's outstanding performance in pioneering innovative technologies and its significant cryptocurrency adoption rate, "signing this landmark agreement with Argentina is particularly meaningful." The specific details of the agreement have not been made public, but Reyes indicated on LinkedIn that the agreement aims to allow the two regulatory bodies to share knowledge and experience to stimulate cryptocurrency innovation. He wrote:
The joint effort between El Salvador and Argentina will lay the foundation for greater regional cooperation, fostering a favorable environment for the development of the digital assets industry.
Reyes had previously told CoinDesk that El Salvador is ahead of most countries in cryptocurrency regulation, thanks to President Nayib Bukele designating Bitcoin as legal tender in this Central American nation. Meanwhile, Argentine President Javier Milei has an ideologically open stance towards cryptocurrencies and Bitcoin, and is welcomed by Argentine cryptocurrency developers for his policies to curb inflation.
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