El Salvador has expanded its efforts to become a global digital asset market leader by signing a new partnership agreement with Argentina on December 11. This agreement focuses on enhancing blockchain technology use and refining regulatory frameworks. It marks the beginning of El Salvador’s broader plan to forge multiple international collaborations. The country is currently in talks with over 25 other nations to replicate this partnership model.
According to a report on Thursday, the head of El Salvador’s NCDA, Juan Carlos Reyes, and Argentina’s CNV President, Roberto Silva, signed the agreement. Reyes stressed the importance of linking El Salvador’s regulation with Argentina’s blockchain technology, which he said would lead to a very active and creative partnership.
El Salvador’s Regulatory Advantage
Reyes also added that El Salvador’s three-year head start in regulating digital assets would be helpful, especially for Argentina. A major benefit of the partnership is the flow of information useful in formulating proper regulatory measures. Some Argentine companies are also represented in El Salvador, so the cooperation should be tightened.
El Salvador, which caused a stir in the world of cryptocurrencies in 2021 and became the first country to accept Bitcoin as legal tender, looks advantageous in the digital asset market. Reyes said that El Salvador’s experience using Bitcoin and its regulation will be significant for Argentina.
Reyes agreed that El Salvador’s model is not the conventional form of a central bank. This has led to some slowdown in international cooperation. Nevertheless, he believes that the country’s unique approach to regulation, as described in the previous chapter, will eventually serve the country well.
Crypto Expert Team Formation
The country has now formed a team of over 20 crypto professionals to oversee its increasing global alliances. This team will be an integral part of the relations the country will develop with other countries and formulate good digital asset laws.
Argentina’s CNV Approves CEDEARs for Crypto and Global ETFs
El Salvador became one of the world’s first countries to support digital assets actively, and the recent agreement with Argentina strengthened this position. The country is still concentrating on cross-border cooperation and providing a safe and efficient market for digital currencies.
