Argentina is in talks with El Salvador over Bitcoin adoption strategy 

Table of Contents

Argentinian regulators are discussing Bitcoin adoption with El Salvador’s regulators, according to Argentina’s National Securities Commission (CNV).

El Salvador is the first country in the world which adopted Bitcoin as a legal tender under the presidency of Nayib Bukele. Bukele successfully pushed the country’s economy to the next level with the help of Bitcoin adoption. Because of Bitcoin adoption, El Salvador’s tourist places attracted global tourists to the country to a great extent. This country has been buying Bitcoin every day & also mining Bitcoin via volcano energy powdered Bitcoin mining operations.

The official notice from the Argentinian CNV confirmed that the top Argentine officials held a meeting with El Salvador’s National Digital Assets Commission last week.

The CNV official visited El Salvador to get knowledge of Bitcoin regulation from the El Salvador regulatory bodies so that they can implement a better Crypto regulatory framework in the country.

As per reports, the Argentine government wants to establish multiple ties with El Salvador, to grow under a healthy environment. 

Argentina, inflation, & Bitcoin 

The current economic situation for Argentina is very bad, as the country has been facing high inflation pressure since the COVID-19 pandemic.

Because of inflation, the majority of people shifting their money investment to Gold, Silver, Bitcoin, & some top US dollar-pegged stablecoins. 

As per the report, Argentine crypto investors are buying at a very high price. In particular, the Bitcoin trade price is 56% higher Year-to-date (YTD) in the US dollar pair but the BTC price is 71% higher in the Argentine pesos pair. 

So here we can consider that Argentine government officials looking forward to adopting a best method to fight against increasing inflation via perfect Bitcoin regulation.

Read also: Bitcoin bull Michael Saylor changes his stance on Ethereum spot ETF products