{"id":127808,"date":"2025-04-23T19:16:08","date_gmt":"2025-04-23T19:16:08","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127808"},"modified":"2025-04-23T19:16:08","modified_gmt":"2025-04-23T19:16:08","slug":"sec-discusses-deepening-us-el-salvador-ties-amid-deportation-backlash","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127808","title":{"rendered":"SEC discusses deepening US-El Salvador ties amid deportation backlash"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsOfficials with the US Securities and Exchange Commission\u2019s (SEC) crypto task force met with the El Salvador National Commission on Digital Assets (CNAD) to discuss regulation and a proposed cross-border sandbox.<br \/>\nIn an April 22 memo, the SEC\u2019s crypto task force reported meeting with officials from El Salvador, Perkin Law Firm, and former Goldman Sachs partner Heather Shemilt as part of the commission\u2019s outreach to the industry. The representatives discussed US-El Salvador cross-border collaboration on crypto regulation at a time when the relationship between the two countries was in the national spotlight over immigration and US deportations to an El Salvador prison.<br \/>\nAccording to the meeting notes, El Salvador\u2019s national commission agreed to collaborate with the SEC to establish a sandbox pilot program, capped at $10,000 for each scenario. The program proposed allowing brokers licensed in the US to obtain a digital asset license in El Salvador and issue \u201cnon-securities\u201d tokens in collaboration with a local company.<br \/>\nMany in the crypto industry see Salvadoran President Nayib Bukele as behind the country\u2019s efforts to adopt cryptocurrency since he announced legislation to recognize Bitcoin (BTC) as legal tender in 2021. Bukele met with US President Donald Trump on April 14, discussing details of a $6 million deal in which the Trump administration has been sending immigrants, whose legal status to be in the US is unclear, to prisons in El Salvador. Some of these deportations violated orders from federal judges.<br \/>\nRelated: Bitcoin takes back seat as Trump, Bukele focus on trade and immigration<br \/>\nNew SEC chair sworn in<br \/>\nIt\u2019s unclear if the Trump administration may intend to deepen ties to El Salvador through additional regulatory partnerships or stepping up deportations in its existing deal. Cointelegraph reached out to SEC Commissioner Hester Peirce, who heads the crypto task force, for comment, but did not receive a response at the time of publication.<br \/>\nThe meeting report came roughly a day after the SEC announced that Paul Atkins had been sworn in as the commission\u2019s new chair, following Gary Gensler and acting chair Mark Uyeda. During his swearing-in ceremony, Atkins said his top priority would be to \u201cprovide a firm regulatory foundation for digital assets.\u201d\u00a0<br \/>\nMagazine: Ethereum maxis should become \u2018assholes\u2019 to win TradFi tokenization race<a href=\"https:\/\/cointelegraph.com\/news\/sec-officials-el-salvador-deportation-backlash?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsOfficials with the US Securities and Exchange Commission\u2019s (SEC) crypto task force met with the El Salvador National Commission on Digital Assets (CNAD) to discuss regulation and a&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127808"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127808"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127808\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127808"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}