Latam and Asia joining forces for crypto regulation. Is it the start of a new era in Crypto regulations?

During this week here in El Salvador has been a topic of discussion that Taiwan and El Salvador are cooperating to cooperate in cryptocurrency regulations, this has been quite surprising for Salvadorans since we haven't had any kind of mutual cooperation since El Salvador Broke political relations in Taiwan in 2018.

This week the Taiwan Crypto Association has approached the El Salvador Virtual Assets Bureau, the Office of the President, and the Central Bank to discuss ways to improve the regulatory framework for cryptocurrencies in both countries

Taiwan’s current laws are still in the early development stage. The country is looking to learn from El Salvador’s experience in regulating cryptocurrencies, as El Salvador was the first country in the world to legalize Bitcoin as legal tender

One of the objectives of the cooperation is to establish a new entity called the Virtual Assets Bureau in Taiwan. This body will oversee the cryptocurrency industry and ensure that it is safe and compliant. The two countries are also working on new regulations for cryptocurrency service providers.

Cooperation between Taiwan and El Salvador is a good sign for future cryptocurrency regulation. It shows that both countries are committed to creating a safe and compliant environment for the cryptocurrency industry to flourish. It is great seeing 2 countries working together for a common benefit, including crypto.