CABEI reaffirms support to El Salvador in bitcoin implementation

Tegucigalpa, July 19, 2021.- The world is moving in a highly digitalized direction, and so are monetary transactions. In this context, during the virtual forum "Possible effects of El Salvador's Bitcoin Law in Latin America", the executive president of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, reiterated that the entity will provide technical assistance to its founding partner country to regulate the use of the cryptocurrency, after the Congress of that country authorized its legal tender.

"We reaffirm to El Salvador our support for the adoption of this new law that will enable its economy to implement a new payment method. We are preparing an expert-led technical assistance package to support the country's economic authorities, harmonizing the needs of users, helping to prevent illicit activities, and avoiding any undesirable impact on financial stability and monetary policy," said Mossi.

The virtual debate was organized by the Spanish cryptocurrency trading platform Criptan and the newspaper Observatory Blockchain, in which the possible consequences of the adoption of bitcoin as legal tender in El Salvador and the rest of Latin America were analyzed.

In addition to the executive president of CABEI, also taking part in the debate were Mauricio Tovar, CEO of TRU and co-founder of Tropykus Finance; Álvaro Alcañiz, co-founder and CMO of Onyze, a cryptocurrency custody platform; Borja Adsuara, lawyer and ICT consultant; Luis Pastor, managing consulting partner at Grant Thornton; Javier Bastardo, organizer of Satoshi in Venezuela; and Jorge Soriano, co-founder and CEO of Criptan.