An Interview With El Salvador’s Top Crypto Regulator: ‘Developing Countries Can Lead the Financial Revolution’
El Salvador was the first country to adopt Bitcoin as legal tender in 2021 and has established a regulatory framework for crypto through the National Commission of Digital Assets (CNAD), created in February 2023. The CNAD, led by Juan Carlos Reyes, focuses on a technology-driven approach to regulation, avoiding traditional financial regulators. The agency is independent, with a team well-versed in crypto technology, and emphasizes consumer and financial security. Companies seeking licenses must undergo thorough evaluations, with an emphasis on transparency and compliance. El Salvador aims to lead in the crypto space, promoting innovations like tokenization to democratize investment opportunities for its citizens. The country’s unique position allows it to rapidly adapt and implement regulations tailored to digital assets.
