An Interview With El Salvador’s Top Crypto Regulator: ‘Developing Countries Can Lead the Financial Revolution’
The National Commission of Digital Assets is the agency in charge of regulating crypto in El Salvador, the first nation to accept bitcoin as legal tender.- Juan Carlos Reyes, the CNAD’s president, sat down with CoinDesk for an exclusive interview.
- Crypto regulators need to deeply understand the technology before offering regulatory frameworks, Reyes said.
- Tokenization efforts are particularly attractive as they allow the democratization of access to structured securities.
When it comes to regulating crypto, El Salvador has a head-start on most other countries. It was the first nation to adopt bitcoin (BTC) as legal tender, in 2021, and has become home to a wide range of crypto companies.
“Looking at the big picture, most people won’t understand what we’re doing in El Salvador, they only see glimpses,” Juan Carlos Reyes, president of the National Commission of Digital Assets in El Salvador (CNAD) — which was created in February 2023 to regulate the crypto sector in the Latin American nation of 6.3 million souls — told CoinDesk in an interview.
