Discussing Bitcoin Implementation Potential, Argentine Financial Supervisors Meet El Salvador's Crypto Regulators

Discussing the potential for Bitcoin implementation, Argentine financial authorities met with crypto regulator El Salvador (Photo; Doc. Comodepositar)

JAKARTA - The Argentine financial authorities and El Salvador held a second meeting between the National Commission for Value (CNV) Argentina, whose functions are similar to those of the United States Securities and Exchange Commission (SEC), and the El Salvador National Commission on Digital Assets (CNAD), which specializes in handling crypto assets, on May 23.

This meeting raises speculation about a regulatory agreement related to Bitcoin in the future. Because Argentina is looking for ways to maximize the potential of crypto assets due to the value of its currency being eroded by inflation. Argentina wants to learn from El Salvador's experience as the first country to make Bitcoin the official tender.

Argentina Learns El Salvador's Experience

Argentine delegations at the meeting were chaired by Roberto Silva as president of CNV and Patricia Boedo as vice president. Meanwhile, the delegation of El Salvador was represented by Juan Carlos Reyes, president of CNAD.

The main topic of talk focused on El Salvador's experience in adopting Bitcoin as a legal tender, as well as the accompanying regulatory aspects. Silva praised El Salvador's move to form a special commission for dealing with crypto assets. "The establishment of CNAD shows El Salvador's expertise in crypto assets, and the experience is invaluable to CNV today," Silva said, quoted by Cointelegraph.

Boedo, who previously participated in important regulatory meetings in El Salvador, stressed the importance of strengthening relations with the pioneer country of Bitcoin. "It is very important to continue to strengthen relations with the Republic of El Salvador as a pioneer and experienced country in this field," he said.

Bitcoin Regulation Cooperation Signal

This meeting is not the first time for both sides. Boedo was previously known to have visited El Salvador in March to discuss regulatory issues. The visit was followed by a follow-up meeting in May indicating the seriousness of the two countries to reach an agreement.

Interestingly, El Salvador through Reyes also recognized Argentina as a pioneer in digital asset technology. He understands CNV's desire "to work efficiently with industry players and create the right regulations."

This recognition is a positive signal for the achievement of a comprehensive Bitcoin regulatory agreement. With regulations in harmony, the two countries can create a more conducive and attractive business climate for crypto investors in Latin America.