Digital assets such as Bitcoin can strengthen Argentina's economic development, the country's National Securities Commission (CNV) has acknowledged.
Argentina's National Securities Commission (CNV) has met with El Salvador's National Digital Assets Commission (CNAD) to discuss the adoption of Bitcoin and digital assets.
According to a statement released by the CNV, the discussion focused on El Salvador's leadership as a pioneer in the adoption and use of Bitcoin and cryptocurrencies in Latin America, and the impact of these technologies on the growth of the region's economies in general.
New collaborations that will boost Bitcoin innovation in Latin America
Roberto Silva and Patricia Boedo, who participated in the meeting representing Argentina's CNV, as president and vice president of the commission, respectively, praised El Salvador as one of the leaders of financial technological innovation in Bitcoin and cryptocurrencies.
“We want to strengthen ties with the Republic of El Salvador and, therefore, we will explore the possibility of signing collaboration agreements”, said Silva, recognizing that the Central American nation's involvement and experience in the world of digital assets can provide guidance for establishing a clear legal framework for the development of cryptoassets in the country, which will unlock new opportunities in this emerging market.
For his part, Juan Carlos Reyes, president of the CNAD of El Salvador, expressed his great enthusiasm for Argentina's approach in the field of cryptocurrencies and highlighted the nation's commitment to technology and the effective regulation of crypto assets.
Argentina seeks a more favorable policy towards Bitcoin and cryptocurrencies
The new collaborations and agreements announced between Argentina and El Salvador regarding cryptocurrencies will help establish a more appropriate and favorable policy for digital assets in the South American nation, which has made a series of reforms and regulatory adjustments since Milei became president.
The CNV of Argentina indicated during the recent meeting that it was very interested in learning about the experience and practices that El Salvador has carried out to become the first country in the world to incorporate Bitcoin as legal tender, and to become a pioneer in the development of cryptocurrencies in the region.
El Salvador passed a historic bill in September 2021, which recognized Bitcoin as the country's official currency, opening the door to a new, innovative and prosperous digital economy.
In the last 3 years, the Central American nation has accumulated more than 5.760 BTC, valued at more than $397 million. This is the result of Bitcoin mining with geothermal energy from its volcanoes, investment in the cryptocurrency and, among other initiatives, the launch of a visa program designed to attract foreign investors to the country.
Argentina's CNV also highlighted El Salvador's focus on ensuring innovative oversight of crypto assets in the country, noting that the creation of the CNAD, as a supervisory authority, has been instrumental in achieving leadership in the world of crypto assets.
Overall, El Salvador's adoption of Bitcoin has become an example for other countries and governments around the world of how they can use cryptocurrencies to boost their economic and social growth, foster technological innovation, and advance digitalization and digital transformation.
