Argentina’s Regulator Engages with El Salvador on Bitcoin Adoption

The National Securities Commission of Argentina (CNV) exchanged experiences with the authorities of El Salvador regarding the regulation and adoption of the leading cryptocurrency.

Roberto Silva and Patricia Boedo, the president and vice-president of CNV respectively, held a working meeting with Juan Carlos Reyes, head of El Salvador’s National Commission for Digital Assets (CNAD).

In September 2021, the country recognized bitcoin as legal tender. According to CNV representatives, the jurisdiction has also become a “pioneer in the development of cryptocurrencies in the region.”

“El Salvador has become one of the leading countries not only in the use of bitcoin but has also stood out in the world of crypto assets. They created a special commission — CNAD, and therefore have experience that is very valuable to us now,” Silva stated.

Boedo, who visited El Salvador on a working trip in March, highlighted the importance of strengthening ties with the country’s government bodies that have developed expertise in overseeing digital assets.

According to CryptonNoticias, in April, Argentine regulators held a meeting regarding the implementation of new rules for bitcoin exchanges.

In March, CNV confirmed it would assume all oversight functions over digital asset service providers. The decision sparked a wave of criticism from the local crypto community due to fears of a ban on individual storage of digital gold.

The publication suggests that closer ties with El Salvador open the possibility for more “friendly” regulation.

Back in November 2023, Javier Milei, a bitcoin supporter, became the president of Argentina.

Subsequently, the government approved the use of digital gold as a currency for contracts. However, the tax amnesty proposed by Milei for crypto asset holders was rejected by lawmakers.