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Argentina Explores Bitcoin Adoption in Talks with El Salvador

Argentina Explores Bitcoin Adoption in Talks with El Salvador

May 27, 2024

Argentina Explores Bitcoin Adoption in Talks with El Salvador

Officials from Argentina's National Securities Commission (CNV) met with their counterparts from El Salvador's National Digital Assets Commission (CNAD) to discuss El Salvador’s adoption of Bitcoin as an official currency.

El Salvador in English

The meeting, held on May 23, included CNV President Roberto E. Silva, Vice President Patricia Boedo, and CNAD President Juan Carlos Reyes. The dialogue centered on El Salvador’s experience with Bitcoin and its implications on the global economy.

Patricia Boedo, who visited El Salvador for technical meetings on market development in March, highlighted the valuable insights gained from El Salvador’s experience. Boedo expressed the desire to continue building relations with El Salvador, a country with significant expertise in the application of Bitcoin.

Juan Carlos Reyes, of El Salvador’s CNAD, reciprocated the appreciation for Argentina's technological strides and its proactive regulatory stance. Reyes welcomed the potential for future collaborations, emphasizing the importance of efficient regulation in the industry.

The CNAD in El Salvador oversees digital assets and financial instruments, with Bitcoin regulation also falling under the Financial Superintendency and the Central Reserve Bank due to its status as an official currency.

This meeting signifies a major step towards closer cooperation between Argentina and El Salvador regarding the adoption of Bitcoin. Argentina is actively moving towards regulating its local Bitcoin market and has passed registration requirements for Bitcoin firms in April.

The collaboration talks come as Argentina's government, under President Javier Milei, who took office in late 2023, exhibits growing interest in Bitcoin. Argentina’s foreign affairs minister, Diana Mondino, mentioned the government is preparing a decree to legalize Bitcoin for payments under specific conditions.

The recent discussions signal a shared interest in leveraging Bitcoin's potential to innovate financial systems in both countries. The potential collaboration agreements between CNV and CNAD may pave the way for significant developments in the regulation and adoption of Bitcoin in Latin America.

El Salvador in English Article


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