Argentinian Regulators Talk Bitcoin with El Salvador Authorities

Tim Alper

Last updated:

May 26, 2024 23:00 EDT | 2 min read

Argentinian regulators have been talking to their counterparts in El Salvador about Bitcoin (BTC) adoption, the National Securities Commission of Argentina (CNV) confirmed this weekend.

Per an official notice from the Argentinian CNV and a report from Criptonoticias, top officials met the head of El Salvador’s National Digital Assets Commission last week.

Officials said the countries are “uating possible cooperation agreements” on digital assets-related issues.

El Salvador an ‘Example’ as Argentinian Regulators Talk Bitcoin?

High-ranking CNV officials have visited El Salvador to “learn how” the government regulates BTC.

Criptonoticias remarked that the nations were forging an “alliance, with Bitcoin at the center of the conversation.”

CNV President Roberto Silva was joined by the regulator’s Vice President Patricia Boedo for the talks.

The duo met with Juan Carlos Reyes, the President of El Salvador’s National Commission for Digital Assets (CNAD).

🇦🇷 Argentina Regulator Outlines Plans to Police Crypto Exchanges

The top Argentinian financial regulator says it plans to “supervise” the Latin American nation’s crypto service providers.#CryptoNews #Argentina

— Cryptonews.com (@cryptonews) March 20, 2024

Argentine officials said they were keen to “learn more” about the Salvadoran government’s experience with adopting Bitcoin as legal tender. Silva said:

“El Salvador has emerged as one of the leading countries, not only in the use of Bitcoin, but also in the [wider] world of crypto assets.”

Silva praised the Salvadoran government for creating the CNAD. He said the nation had “experience that is very valuable for the CNV at this moment.” Silva explained:

“We want to strengthen ties with El Salvador. So we will explore the possibility of signing collaboration agreements with [the Salvadoran government].”

Boedo visited El Salvador in March this year for preliminary “technical meetings.”

The IMF’s staff signed off on the eighth review or Argentina’s $44 billion program, giving a key endorsement to President Javier Milei’s shock therapy six months into his government.

— Bloomberg Markets (@markets) May 13, 2024

‘Rapprochement’ Boost for Bitcoin Community?

The CNV has confirmed that she also spoke to her counterparts about “key elements” of Bitcoin “regulation.”

Reyes commented that Argentina “is a pioneer in the technology sector.” He added that the CNV “wants to work with the [Bitcoin and digital assets] industries efficiently and create appropriate regulation.”

The move may come as some form of comfort for Argentina’s Bitcoin and crypto communities.

Despite much talk about President Javier Milei’s pro-Bitcoin views, Buenos Aires has apparently “caved” into IMF pressure on crypto regulation.

The nation has announced a slew of crypto exchange-related regulations in a bid to appease the IMF and secure financial packages.

However, Criptonoticias noted that “the rapprochement of Argentina and El Salvador” was “opening up the possibility” that new Argentinian regulation would “be “friendly” and “relatively unrestrictive.”

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