El Salvador has entered into a groundbreaking agreement with Argentina to advance their respective digital asset industries. The collaboration was announced on Dec. 11, marking a significant milestone for both nations in their pursuit of innovation in blockchain and cryptocurrency regulation.
The agreement, signed by Juan Carlos Reyes, president of El Salvador’s National Commission of Digital Assets (NCDA), and Roberto Silva, president of Argentina’s National Securities Commission (CNV), aims to leverage the strengths of both nations. El Salvador’s regulatory expertise and Argentina’s vibrant blockchain ecosystem are expected to foster a mutually beneficial partnership.
A Partnership Rooted in Expertise
El Salvador, which became the first country to adopt Bitcoin as legal tender in 2021, has a head start in regulating digital assets. Juan Carlos Reyes highlighted this advantage, noting that the agreement would enable the two nations to share knowledge and best practices.
“We have Argentine companies registered in El Salvador, and through this partnership, we can exchange valuable insights,” Reyes said in an interview with *Cointelegraph*.
Argentina, recognized for its innovative blockchain projects and startups, stands to gain from El Salvador’s experience in crafting regulatory frameworks. The partnership also reflects both nations’ commitment to fostering cross-border collaboration in the rapidly evolving crypto space.
El Salvador’s Global Crypto Outreach
El Salvador is not stopping at Argentina. Reyes revealed that the country is in discussions with over 25 nations to establish similar crypto-focused agreements. These partnerships aim to create a global network of cooperation, paving the way for better regulation and adoption of digital assets.
“We are not what most regulators are used to—a central bank or a legacy institution,” Reyes explained. “This has caused some delays, but we are confident that our unconventional approach will yield fruitful collaborations.”
To facilitate these efforts, El Salvador has assembled a team of over 20 Bitcoin and crypto experts who are actively engaging with international counterparts.
A Call to Action for Regulators
Reyes also emphasized the urgency of developing effective regulations to mitigate risks in the crypto industry. He cautioned against delays, stressing that inaction could lead to an increase in scams and money laundering activities.
“The longer you wait, the more challenging it becomes to implement effective regulations,” he warned.
With two more international agreements nearing completion, El Salvador remains committed to leading the charge in global crypto regulation.
“Our experience has shown that cross-border knowledge sharing is essential for creating a safe and effective regulatory environment,” Reyes said. “We invite other regulators to join us in prioritizing collaboration to safeguard the industry’s future.”
