Argentina to Learn from El Salvador’s Bitcoin Success

The Latin American nation is set to take a page out of El Salvador’s Bitcoin program. The project noticed that Bitcoin adoption and other cryptocurrency activities happening have generated positive results.

On this account, the government of Argentina is working alongside El Salvador as part of efforts to ramp up Bitcoin adoption and support the growth and development of the native crypto sector.

The securities regulator of Argentina namely the National Securities Commission or CNV has organized a meeting with the National Commission of Digital Assets (CNAD) to discuss the topic of Bitcoin adoption and regulatory reforms in both nations as per an official notification.

Argentina will Learn from El Salvador’s Bitcoin Adoption

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The official announcement issued by CNV indicated that after a 23rd May meeting organized by President Roberto Silva, the CNV vice president Patricia Boedo and CNAD president Juan Carlos Reyes discussed the experience of El Salvador as the first nation to adopt Bitcoin as legal tender.

The officials hailing from both nations exchanged local concepts and approaches and talked about the practical utility of Bitcoin in global economics with a focus on Bitcoin adoption in El Salvador.

CNV president Silva also noticed that El Salvador did not only cement its position as a leader in the Bitcoin sector but also continued to make strides in the global Bitcoin sector.

Speaking on the matter of Bitcoin adoption as a legal tender on a federal level, CNAD shared insights with the media on the matter of digital assets in El Salvador.

Silva stated that the regulatory agency intends to consolidate correspondence with the Republic of El Salvador and on this account the regulatory agency is working on the probability of collaborating and chartering new agreements with their contemporary regulatory agencies.

The VP of CNV namely Boedo who paid a visit to El Salvador for participating in a meeting regarding market development in March emphasized that the importance of role played by El Salvador experts in the local crypto sector.  

Meanwhile, an official hailing from El Salvador namely Reyes noticed that Argentina is set on the path to become a pioneer in technology. He further stated that the National Securities Commission is aligned with industry and working on increasing the efficiency of the industry.

The news from Argentina and El Salvador collaboration are coincided with the time when regulatory agencies are set for local crypto market and passing registration requirements for crypto firms in April.

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The nation has taken various steps to foray farther into becoming a Bitcoin-friendly nation under the wing of Bitcoin-pro politician Javier Milei, getting elected as president in 2023.

European Commission to Make Preparations for Blockchain and AI Integration

Another report revealed that decentralized AI networks were the next phase of development in the blockchain sector. The article noticed that the tech was integrating into blockchain networks by enhancing smart contracts and emerging DeFi protocols to become the latest trends in the industry.

These remarks were quoted from EUBOF. The EU has received instructions to brace for the upcoming shift of the blockchain sector with AI solutions.

EUBOF Recommendations

These recommendations have been issued by the European Blockchain Observatory and Forum (EUBOF). This firm is an initiative of the EU Commission directed towards watching over the blockchain developments throughout European regions and public a conclusive report on 24th May.

The report in question indicated that blockchain has a major potential of merging with the latest AI solutions as a way to install the latest fintech innovations.

As per the details, sensitive data sets from AI are stored in a secure manner on blockchain networks as per the EUBOF report. The report noticed that the analysis focused on the healthcare and finance sectors and works on ensuring data security. The report projected that the merger of blockchain and AI technology is going to lessen the risk of data monopolies and promote development in the AI sector.

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Author: Isacco Genovesi

Isacco writes news articles, reviews and guides about cryptocurrencies including technical analysis, blockchain events, coin prices marketcap and detailed reviews on crypto exchanges and trading platforms.

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