El Salvador and Argentina Regulators Sign Agreement to Help Develop Crypto Industry

El Salvador and Argentina are partnering to help develop the crypto industry in Latin America.

Juan Carlos Reyes, El Salvador’s top crypto regulator and president of the Comisión Nacional de Activos Digitales (CNAD), and Roberto Silva, the president of the Comisión Nacional de Valores of Argentina (CNV), on Tuesday signed an agreement for the two countries to collaborate on crypto regulation.

“At CNAD we have two core objectives, when it comes to international collaboration,” Reyes told CoinDesk in an email. “To share our expertise with international partners, enabling them to harness the benefits of a well-regulated industry. … [And] to broaden the international footprint of our regulated companies by forging strategic partnership agreements with nations worldwide.”

“This landmark agreement with Argentina holds particular significance, given the country’s standout reputation for pioneering innovative technologies and its remarkable rate of adoption,” Reyes added.

While the details of the deal are still unknown, Reyes stated on LinkedIn that the agreement aimed to enable the two regulatory bodies to share knowledge and experience, to spur crypto innovation.

“The joining of efforts between El Salvador and Argentina will lay the foundations for greater regional cooperation, promoting a favorable environment for the development of the digital asset industry,” he wrote.

Reyes previously told CoinDesk that El Salvador had a head start on most countries in terms of crypto regulation thanks to President Nayib Bukele making bitcoin legal tender in the Central American nation.

Argentinian President Javier Milei, meanwhile, has been ideologically open to cryptocurrencies and bitcoin and is popular among Argentinian crypto developers for his inflation-mitigating policies.