Argentine regulators are in discussions with their Salvadoran counterparts about the introduction of Bitcoin (BTC), the Argentine National Securities Commission (CNV) confirmed this weekend.
According to an official notice from Argentina’s CNV and a report from Criptonoticias, government officials met with the head of El Salvador’s National Digital Assets Commission last week.
The official said the two countries were “exploring a possible cooperation agreement” on digital asset-related issues.
As Argentine regulators talk Bitcoin, will El Salvador set an “example”?
CNV officials visited El Salvador to “learn” how the government regulates BTC.
Cryptonotius said countries are forming “alliances that put Bitcoin at the center of the conversation.”
The meeting was attended by CNV Chairman Roberto Silva and the regulator's Vice-Chairman Patricia Boedo.
The two met with Juan Carlos Reyes, chairman of El Salvador's National Digital Assets Commission (CNAD).
🇦🇷 Argentine regulators unveil plans to oversee cryptocurrency exchanges
Argentina's top financial regulator said it plans to “supervise” cryptocurrency service providers in the Latin American country.#CryptoNews #Argentinahttps://t.co/YlilJm8YXp
— Cryptonews.com (@cryptonews) March 20, 2024
Argentine officials said they would “like to learn more” about the Salvadoran government’s experience with adopting Bitcoin as legal tender. Silva said:
“El Salvador is not just about using Bitcoin. [wider] The world of crypto assets
Silva praised the Salvadoran government for creating the CNAD, saying the country has “experience that is invaluable to CNV at this point.”
“We want to strengthen our ties with El Salvador, so we will explore the possibility of signing a cooperation agreement. [the Salvadoran government]. “
Boedo visited El Salvador in March this year for a preliminary “technical meeting.”
IMF staff approved the eighth review of Argentina's $44 billion program, giving a crucial endorsement to President Javier Milley's shock therapy six months into his administration. https://t.co/TNZAXnooif
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Will this promote “reconciliation” in the Bitcoin community?
CNV confirmed that she also discussed “key elements” of Bitcoin “regulation” with her colleagues.
Reyes said Argentina is a “pioneer in the technology sector.” CNV added: [Bitcoin and digital assets] “We will run the industry efficiently and have proper regulations in place.”
The move may come as some comfort to Argentina's Bitcoin and cryptocurrency community.
Despite much debate about President Javier Milley’s pro-Bitcoin views, Buenos Aires appears to have “caved” to IMF pressure on cryptocurrency regulation.
The country announced a series of cryptocurrency trading-related regulations in an effort to appease the IMF and secure a financial package.
However, Cryptonoticias noted that the “reconciliation between Argentina and El Salvador” opens the door for any new Argentine regulations to be “friendly” and “relatively less restrictive.”
