El Salvador and Paraguay have signed a memorandum of understanding (MOU) on cryptocurrency regulation. The agreement aims to strengthen the fight against unlicensed activities and prevent financial crimes. Juan Carlos Reyes, President of the National Commission on Digital Assets of El Salvador (CNAD), noted that this agreement contributes to the creation of a more transparent and interconnected financial system.

This is an important step for Paraguay, as cryptocurrencies are not yet regulated in the country. The Central Bank of Paraguay has warned citizens about the risks of interacting with unlicensed crypto companies. El Salvador, in turn, continues to strengthen its position in the crypto industry, having previously concluded a similar agreement with Argentina.

CNAD, being the key regulator of the crypto industry in El Salvador, has implemented one of the most advanced legal regimes in the world. Companies are required to obtain a license to work with digital assets, which makes the country an example for other states in the field of crypto regulation.