Authorities in the Argentinean government are collaborating with their counterparts in El Salvador to derive benefits for the Argentina crypto sector from Bitcoin adoption in El Salvador.
Regulators in Argentina are currently working towards crypto adoption in the country. Recently, the National Securities Commission (CNV) held talks with authorities in El Salvador. They did so to know more about El Salvador’s strategy of Bitcoin adoption. Meanwhile, El Salvador holds the contention of being the world’s first country to consider Bitcoin as legal tender.
The CNV also published a press release on its meeting with El Salvador’s National Commission of Digital Assets (CNAD). The release quoted Dr Silva from the CNV, who expressed appreciation for El Salvador’s efforts in furthering crypto adoption.
He stated, “We want to strengthen ties with the Republic of El Salvador, and therefore, we are going to explore the possibility of signing collaboration agreements with them.”Moreover, he expressed how other authorities could learn from El Salvador’s various initiatives in crypto adoption.
On the other hand, officials from El Salvador’s CNAD praised Argentina’s positive approach towards the crypto sector. It noted that its collaborative approach could help both the countries.
The meeting between both countries comes amidst economic distress in Argentina. The country is experiencing high inflation, among other economic issues. As a result, Bitcoin has emerged as a popular investment asset class among Argentinean residents. The Argentinean government also favors rolling out a crypto bill that favors the industry. Efforts are ongoing to pass the bill.
Moreover, Argentina has teamed up with El Salvador, considering the latter’s vast experience in the subject. El Salvador already runs a successful crypto education project, apart from its other crypto initiatives. It has also made activities in tech-innovation completely tax-free.
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