El Salvador's Comisión Nacional de Activos Digitales (CNAD) recently engaged in discussions with the U.S. Securities and Exchange Commission (SEC) to establish a cross-border regulatory sandbox. CNAD President Juan Carlos Reyes emphasized the need for international regulatory collaboration, stating that digital assets transcend geographical limitations. The productive meeting, held on April 22, sought to position El Salvador as a real-world case study for the SEC as it re-evaluates its regulatory framework post-Gary Gensler. The proposed pilot program involves various scenarios aimed at offering a streamlined approach for digital asset licensing, including traditional finance brokers obtaining digital asset licenses. Reyes appreciates the SEC's understanding of the technology behind digital assets, noting that the SEC is ahead of other jurisdictions in recognizing the unique regulatory needs of crypto. El Salvador has already attracted major crypto players like Tether and Binance with its favorable regulatory environment.

Source 🔗