Expanding Crypto Collaboration: El Salvador and Paraguay Forge Important Regulatory Links
by aria-crypto.com
March 11, 2025 at 04:49
Expanding Crypto Collaboration: El Salvador and Paraguay Forge Important Regulatory Links
In a significant step for cryptocurrency governance, El Salvador and Paraguay have signed a cooperative agreement to enhance regulation and oversight of the digital asset industry. This Memorandum of Understanding, facilitated between Paraguay’s Secretariat for the Prevention of Money Laundering (SEPRELAD) and El Salvador’s National Digital Assets Commission (CNAD), focuses on combating illegal cryptocurrency activities and improving anti-money laundering efforts. The collaboration underscores a commitment to boost the exchange of information and regulatory practices to ensure financial integrity and innovation within the global economy. While El Salvador continues to develop its sophisticated regulatory framework, Paraguay has not declared cryptocurrencies as legal tender, yet recognizes the importance of this collaboration in controlling unauthorized crypto transactions. This partnership not only aims to share knowledge and technology but also seeks to expand the international presence of El Salvador’s regulated crypto entities. Juan Carlos Reyes, President of CNAD, emphasized the dual goals of transferring expertise and enhancing international cooperation to support other nations in establishing well-regulated cryptocurrency markets.
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