News 
December 13, 2024 
4 min. 
El Salvador has teamed up with Argentina to strengthen their digital asset industries. The two countries signed a cooperation and training agreement, aiming to share knowledge and expertise in this rapidly evolving field.
The announcement came on Dec. 11 from Juan Carlos Reyes, head of El Salvador’s National Commission of Digital Assets (NCDA), after signing the agreement with Roberto Silva, president of Argentina’s National Securities Commission (CNV).
Reyes said that Argentina’s dynamic blockchain sector combined with El Salvador’s experience in digital asset regulation makes for a promising partnership. He pointed out that El Salvador has a three-year head start in regulating digital assets, which gives it valuable insights to share.
“One of the key immediate benefits will be the exchange of information, especially since there are Argentine companies already operating in El Salvador,” Reyes explained.
El Salvador, known for its Bitcoin-friendly policies, is also exploring similar agreements with over 25 other nations.
How The Partnerships Will Benefit Both Parties
El Salvador is working to refine its regulatory framework and deepen its understanding of the digital assets market through a partnership with Argentina. Speaking with *Cointelegraph*, Reyes shared that the country’s regulators are also reaching out to other nations to establish similar crypto-focused collaborations.
“We’re in talks with more than 25 countries right now and expect many more agreements moving forward,” Reyes said. “As regulators, we approach things differently—our setup isn’t like the traditional central banks or legacy institutions they’re used to, which has created some challenges in figuring out how to work together.”
Reyes emphasized the importance of acting quickly to establish regulations and follow the Financial Action Task Force (FATF) guidelines. He urged regulators in other regions not to delay, warning:
“The more you wait, the harder it gets to enforce proper regulations. This delay only increases the risk of scams and gives money launderers more room to dominate the industry.”
El Salvador Sets Bitcoin Policy Changes to Secure $1.3B IMF Loan
El Salvador, the first country to adopt Bitcoin as legal currency, seems to be rethinking its approach due to pressure from the International Monetary Fund (IMF).
According to a report from the Financial Times on December 9, the country is working on a $1.3 billion loan agreement with the IMF. As part of the deal, El Salvador would amend its Bitcoin Law, sources familiar with the discussions revealed.
One key change would make Bitcoin acceptance optional for businesses rather than mandatory. If finalized, the agreement is expected to pave the way for additional funding—$1 billion from the World Bank and another $1 billion from the Inter-American Development Bank over the coming years. Negotiations are expected to wrap up within two or three weeks.
