El Salvador and Paraguay signed a memorandum of understanding (Memorandum of Understanding) on Friday, March 7, to enhance their organizational cooperation in the cryptocurrency industry. The memo was signed by the Paraguay Municipality to prevent money laundering (CNAD), which represents the second cooperation in less than three months.
Salvador and Paraguay, the two teams, to organize the encrypted currency
This agreement follows a similar partnership between El Salvador and the National Securities Committee in Argentina (CNV) in December 2024.
The Memorandum of Understanding determines the commitment of both countries to work together to combat unauthorized cryptocurrencies and improving anti -money laundering practices (AML). According to statement From Seprelad, the two countries will cooperate in organizing and providers of cryptocurrencies, and exchanging information and technical experience to detect unlicensed operations across the border.
In addition to organizational cooperation, the agreement focuses on enhancing measures to prevent money laundering, financing terrorism, and the spread of weapons of mass destruction. These efforts are in line with the fifth round of mutual assessments by the Latin America’s Financial Labor Squad.
The agreement also emphasizes the importance of technical cooperation, as both parties agree to share knowledge on a set of issues related to the regulation of encrypted currency, including Blockchain intelligence tools, risk analysis, and tracking digital assets. This partnership will help both countries monitor better cryptocurrencies and ensure compliance with international standards.
The goal of Seprelad in this agreement is to enhance the regulatory frameworks using CNAD experience and successful practices.
Also read: Bitfinex Securities to issue Blockstream (BMN2) in El Salvador
