El Salvador is expanding its regulatory influence over Bitcoin (BTC) and cryptocurrencies in Latin America.
This week, the Central American country’s National Commission for Digital Assets (CNAD) formally signed a strategic partnership with the Central Bank of Uruguay (BCU). It aims to provide advice and share experiences on implementation and supervision of the digital asset sector.
CNAD President Juan Carlos Reyes visited Montevideo to sign the Memorandum of Understanding (MOU). As the official explained through official channels, This agreement represents an important step for mutual innovation.
“I am really looking forward to the exchange of ideas, experiences and knowledge between our two countries,” Reyes said.
El Salvador has positioned itself as a global benchmark by adopting Bitcoin as a legal tender and creating a regulatory framework for the issuance of digital securities. In that respect, Uruguay is looking to use this trajectory to strengthen its financial ecosystem.
In this regard, Mr. Reyes emphasized Uruguay’s economic stability and his vision.
El Salvador is a pioneer in the regulation and supervision of digital assets, with a vision to seamlessly combine traditional finance with cutting-edge blockchain technology.
Juan Carlos Reyes, President of El Salvador’s CNAD.
This agreement is not an isolated event. In December 2024, representatives of El Salvador and Argentina signed a similar agreement to facilitate the development of this technology in the region, CriptoNoticias reported.
With the incorporation of Uruguay, CNAD reaffirms its international mission and adds to previous agreements with countries such as Bolivia, Paraguay, Nigeria and Kazakhstan.
