Juan Carlos Reyes, president of El Salvador's National Commission of Digital Assets (CNAD), emphasized the need for regulators to understand the technology behind cryptocurrencies before creating frameworks. Following El Salvador's pioneering decision to adopt Bitcoin as legal tender, Reyes explained that the country has developed a tailored regulatory approach through the CNAD rather than adapting traditional financial systems. He highlighted the importance of consumer and financial security, which includes using multi-signature wallets and stringent customer identification processes. Reyes is particularly excited about the potential of tokenization, which he believes can democratize access to investments for Salvadorans. He stated that developing nations can take a leading role in the global financial revolution, inspiring others to adapt similar models. The CNAD aims to ensure that regulated crypto companies meet high standards, setting a benchmark for global licensing.

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