Argentina and El Salvador reached an agreement to regulate digital assets
The CNV of Argentina and the CNAD of El Salvador signed an agreement to strengthen the regulation and supervision of digital assets and their providers
Argentina and El Salvador reached an agreement to regulate digital assets
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The National Securities Commission (CNV) of Argentina and the National Digital Assets Commission (CNAD) of El Salvador signed a cooperation agreement to strengthen the regulation and supervision of digital assets, promoting investor protection and innovation. This was announced in a publication from the official portal of the Argentine state.
This agreement aims to strengthen the supervision and regulation of Virtual and Digital Asset Service Providers (VASP). This commitment, based on principles of cooperation and reciprocity, seeks to promote the integrity, efficiency, and financial solidity of the supervised entities, they reported.
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The agreement —they specified— signed by Roberto E. Silva, president of the CNV, and Juan Carlos Reyes, head of the CNAD, includes the exchange of information, capacity development, and collaboration in events and workshops. “El Salvador has demonstrated leadership in the use of bitcoin and digital assets, and we want to work with them for their valuable experience,” highlighted Dr. Silva during the event.
A pioneering regulatory framework for digital assets
El Salvador, the first country in the world to adopt bitcoin as legal tender, has a unique regulatory framework that includes CNAD, the Financial Superintendency, and the Central Reserve Bank as key players in the supervision of BTC and other digital assets, they explained from the website.
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For its part —they added— the CNV of Argentina regulates VASPs and Virtual Assets that qualify as tradable securities. In this context, the memorandum signed with the CNAD would seek to leverage Salvadoran experience in the regulation of digital assets and financial instruments, they emphasized.
Towards a stronger regulatory ecosystem
The collaboration between both agencies would not only strengthen the regulation and supervision of Virtual Asset Service Providers (VASP), but would also foster innovation and investor protection in an ever-evolving market, they added.
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The CNV has made significant progress in creating a registry for VASPs and regulating the sector, while El Salvador's comprehensive approach to digital assets offers a unique regulatory model in the region, they reported.
Finally, it could be said that the agreement between the CNV and the CNAD marks a new path in international regulatory cooperation, laying the groundwork for a more transparent and secure financial environment. Both countries position themselves as benchmarks in the supervision of digital assets, with likely prospects for a more innovative and collaborative future in the digital economy.
