The post El Salvador Proposes Crypto Sandbox to SEC in Bold Cross-Border Move – Is Bitcoin In? appeared first on Coinpedia Fintech News
Something big might be happening between El Salvador and the United States in the crypto world. On April 22, El Salvador talked to the U.S. SEC about a new idea, a cross-border crypto sandbox. This could be a new way to test and create crypto rules between the two countries, and the big question is, Will Bitcoin be included in their plans?
El Salvador’s Crypto Sandbox Plan
The meeting happened on April 22, which included El Salvador’s National Commission on Digital Assets (CNAD), U.S. law firm Perkins Law, and former Goldman Sachs partner Heather Shemilt.
Together, they suggested a cross-border sandbox, a safe place to test new crypto projects without strict rules at the start. This plan would help both countries learn what works and what doesn’t when it comes to digital money.
Two Small Projects Will Be Tested
As part of the proposal, two small pilot programs are planned:
1. Real Estate Tokens:- A U.S.-licensed broker will get a special license in El Salvador to sell small shares of real estate. Each investor can invest up to $10,000. This program will test how well digital real estate tokens can be traded and whether they should be treated as regular securities or not.
2. Fundraising With Tokens:- The second project will let a small business in El Salvador raise money by selling digital shares. Again, each investor can put in up to $10,000. This will help see if U.S. crowdfunding rules can work with this type of token system.
Why This Matters for the U.S.
This idea fits well with past statements from SEC Commissioner Hester Peirce, who supports cross-border teamwork and flexible rules for crypto. El Salvador has been testing digital tools for years and has already built a model for handling risk in crypto.
Bitcoin Use in El Salvador Is Falling
While El Salvador currently holds nearly $6089 in bitcoin and the government continues pushing for high-tech projects, like a Bitcoin City Airport and new AI partnerships, actual use of Bitcoin is falling.
A report from the Central Reserve Bank shows that only 20 Bitcoin service firms are still active, down from 181 when Bitcoin became legal tender in 2021.
Will the Plan Be Approved?
If the SEC agrees to the sandbox plan, it could become a real test to help make clearer and better crypto rules. It might also help the U.S. and El Salvador work more closely on digital money ideas. For now, it’s just a big plan, and many people are waiting to see what happens next.
