Officials from the US Securities and Exchange Commission (SEC) and El Salvador's National Commission on Digital Assets (CNAD) recently convened to explore collaborative regulation and a cross-border sandbox initiative amidst increased scrutiny over US deportations to El Salvador. In a meeting held on April 22, participants included representatives from the SEC's crypto task force, Perkin Law Firm, and Heather Shemilt, a former Goldman Sachs partner. The talks resulted in an agreement to pilot a sandbox program allowing US-licensed brokers to obtain digital asset licenses in El Salvador, aiming to facilitate the issuance of non-securities tokens in collaboration with local firms. This initiative unfolds as the relationship between the US and El Salvador is under heightened attention due to immigration issues, particularly concerning deportations of immigrants to Salvadoran prisons. President Nayib Bukele’s cryptocurrency agenda, which includes Bitcoin's recognition as legal tender, continues to influence discussions despite various tensions, including those linked to immigration policies.

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