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Argentina aims to boost crypto adoption by exploring Bitcoin collaboration with El Salvador

Fast Take
  • Argentina aims to boost crypto adoption with Bitcoin.
  • CNV confirmed cooperation with El Salvador in the adoption of Bitcoin.
  • In 2021, El Salvador was the first country to incorporate Bitcoin.
Argentina Advances Progressive Regulatory Framework for Cryptocurrencies
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In an important development for the cryptocurrency industry in South America, the Argentina is aiming to boost cryptocurrency adoption by exploring Bitcoin (BTC) collaboration with El Salvador. In light of the movement, Argentine authorities highlighted that, in 2021, El Salvador became the first country in the world to incorporate the largest cryptocurrency on the market, Bitcoin, along with the dollar, as its official currency, and is also a pioneer in the development of cryptocurrencies. in the region.

In an official statement, the Argentine National Securities Commission (CNV) confirmed that the country is considering cooperating with El Salvador in the adoption of Bitcoin. Recently, Argentine and Salvadoran regulators met to discuss the plans.

Roberto E. Silva and Patricia Boedo, president and vice-president respectively, of the National Securities Commission (CNV) met with the president of the National Digital Assets Commission (CNAD) of El Salvador, Juan Carlos Reyes, with the aim of discuss Bitcoin regulatory strategies in El Salvador. During the conversations, authorities highlighted the growth in the use of cryptocurrencies in economies in general and, in particular, in the case of El Salvador.

“El Salvador has emerged as one of the leading countries not only in the use of bitcoin, but has also excelled in the world of crypto assets. “It created a specific commission, the National Commission for Digital Assets (CNAD), and therefore has experience that is very valuable for the CNV at this time.” He also stated that “We want to strengthen ties with the Republic of El Salvador and therefore we will explore the possibility of signing collaboration agreements with them”, stated Silva

It is worth remembering that, in December, amid Argentina's fiscal and regulatory scenario, President Javier Milei presented a project innovative law focused on regularizing undeclared assets, including cryptocurrencies. This project, an integral part of the “Law of Bases and Starting Points for the Freedom of Argentines”, proposes a path for cryptoactive holders to regularize their tax situation by paying reduced fines.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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