El Salvador concluded a regulatory agreement with Paraguay on the subject of cryptocurrencies.
The Secretaría de takeención de Lavado de Dinero de Paraguay (Seprelad) has signed a memorandum of understanding (MOU) with the Comisión Nacional de Activos (CNAD) of El Salvador.
The document is supposed to facilitate cooperation between the two institutions for the cryptography sector, said Seprelad on its website. The Seprelad and the CNAD will also collaborate in the detection and control of cryptographic operations without license in Paraguay, said the agency, and strengthening anti-flowage practices.
“El Salvador continues to share its trajectory and its success in the field of digital assets, strengthening international alliances to build a more connected and transparent future,” said CNAD president, Juan Carlos Reyes, “this agreement not only promotes innovation, but also ensures financial integrity in an economy without borders.”
When he was asked for details on the agreement, Reyes returned Coindesk to a declaration made by the central bank of Paraguay on Thursday that cryptocurrencies are not registered or authorized by the central bank or the Superintendencia de Valores (which was created in 2023 and is part of the Central Bank).
The Paraguayans were invited not to interact with cryptographic entities that were not authorized or regulated by the Superintendencia.
The Central Bank’s declaration “tells you the importance” of the regulatory agreement between Seprelad and CNAD, said Reyes. “The Central Bank’s declaration is intended to clarify that, for the moment, no government directive or legislative framework has been created to approach the legality of cryptocurrencies.”
The El Salvador CNAD has established one of the most advanced regulatory frameworks in the world. The CNAD has been deliberately constructed to regulate digital assets; The first approach of the agency agency was carefully congratulated by cryptographic companies that received a license from El Salvador (DASP).
The CNAD is notably the unique point of entry for all the digital assets of the country, which means that anyone who is not authorized by the Commission breaks the law, had previously declared to Coindesk. It is not clear if the agreement with Paraguay implies the implementation of a similar structure for the South American nation.
El Salvador has already signed a cryptographic regulatory agreement with the Comisión Nacional de Valores (CNV) in Argentina in December.
“At CNAD, we have two fundamental objectives, with regard to international collaboration,” said Reyes at Coindesk at the time. “Share our expertise with international partners, allowing them to exploit the advantages of a well -regulated industry. … (And) expand the international footprint of our regulated companies by forging strategic partnership agreements with nations around the world. »»
Update (March 11, 2025, 17:20 UTC): Adding additional comments by Juan Carlos Reyes.
