The National Commission of Digital Assets (CNAD) continues to lead in international cooperation, aiming to support countries in the region to innovate and develop effective regulation and oversight of digital asset ecosystems.
On Tuesday, December 10, Lic. Juan Carlos Reyes, President and CEO of CNAD, and Lic. Roberto Emilio Silva, President of the National Securities Commission (CNV) of the Republic of Argentina, signed a Memorandum of Understanding to establish mutual cooperation. This agreement aims to promote the integrity, efficiency, and financial robustness of Digital Asset Service Providers. Argentina, as a key player in fostering the use of digital assets and advancing sector regulation, represents a strategic ally in promoting the digital ecosystem.
The adoption of Bitcoin as legal tender in 2021 marked a significant milestone in driving new technologies aimed at financial inclusion. This initiative aligns with President Nayib Bukele’s vision of establishing El Salvador as a global benchmark in creating and implementing a digital asset ecosystem with world-class regulatory and supervisory best practices. Additionally, the country seeks to export its expertise to other nations through support mechanisms and technical cooperation agreements like this one with the Republic of Argentina.
With the signing of this document, CNAD promotes and drives the enhancement of effective regulation and fosters an environment conducive to preventing unauthorized operations and other prohibited practices.
During the event, President Reyes stated:
“As pioneers in adopting Bitcoin as legal tender in 2021, El Salvador has ventured into uncharted territory, paving the way for the regulation and supervision of digital assets. This journey has provided us with unique regulatory experience and insight, positioning us at the forefront of understanding the complexities and opportunities of these assets. Recognizing that digital assets transcend geographical boundaries, our goal at the Commission is to establish collaborative agreements with nations worldwide. Our objective is to ensure that while digital assets flow without barriers, regulation is equally harmonious and borderless, fostering a global ecosystem of innovation, security, and prosperity.”
This collaboration between institutions will facilitate mutual benefits through the exchange of information, technical knowledge, best practices, shared experiences, capacity-building efforts, and invitations to outreach events or workshops.
CNAD will contribute technical expertise thanks to its successful experience in supervising Digital Asset Service Providers and in crafting effective and sophisticated regulation in this field. This achievement has earned El Salvador international recognition as a continental leader and the world’s second in digital asset regulation.
Leveraging this experience, CNAD seeks to support all countries wishing to create digital asset ecosystems based on the Salvadoran model, with strong regulatory frameworks and supervisory processes that ensure consumer protection and market integrity.
