TechFlow reported, according to CoinDesk, that El Salvador and Paraguay have signed a regulatory cooperation agreement in the field of cryptocurrency. On Friday last week, Paraguay's Secretariat for the Prevention of Money Laundering (SEPRELAD) signed a Memorandum of Understanding (MOU) with El Salvador's National Commission for Digital Assets (CNAD).
As stated on SEPRELAD’s website, the agreement aims to promote institutional collaboration between the two countries in the cryptocurrency sector. The parties will also jointly combat unlicensed cryptocurrency operations within Paraguay and strengthen anti-money laundering practices. Juan Carlos Reyes, Chairman of CNAD, said on social media: "El Salvador continues to share its experience and successes in the digital asset space, strengthening international alliances and building a more connected and transparent future."
This marks the second regulatory agreement El Salvador has signed within the past three months, following a previous crypto regulatory pact with Argentina’s National Securities Commission (CNV) in December last year. Reyes noted that CNAD has two core objectives in international cooperation: sharing expertise with global partners so they can benefit from well-regulated industries, and expanding the international reach of its regulated companies through strategic agreements with nations worldwide.
