Bitcoin-Friendly El Salvador Pitches Tokenized Real Estate ‘Sandbox’ to Trump’s SEC

The El Salvador National Commission on Digital Assets, or CNAD, can let us experiment with tokenized real estate in the Midden -American Nation, Erica Perkin, a lawyer at Perkin Law Firm and adviser to CNAD, said Decrypt On Thursday.

The prospect was picked up during a meeting between the Crypto Task Force of the US Securities and Exchange Commission on Monday submit.

Earlier this month, the leadership of the SEC signaled It was open for a test floor for legal companies for American companies, in particular with tokenized assets, which can represent shares, bonds, or in this case “a small -scale real estate project in El Salvador.”

The meeting, who also touched how El Salvador ‘attracted top players’, such as Stablecoin emittent Tether, was held in response to a statement by SEC commissioner Hester Peirce in February, Perkin said. She added that the provisional discussions were exciting, given the willingness of the SEC to listen to supervisors from a smaller nation.

“They have worked hard to create and maintain an ecosystem of digital assets that offers strong consumer protection, while making innovation of digital assets possible,” Perkin said. “CNAD heard Commissioner Peirce’s call for a dialogue on a cross-border sandbox and is ready to offer practical data and real-world use cases that can best help the crypto-task force.”

Perkin said that her team includes the president of Cnad, Juan Carlos Reyes, and a former partner at Goldman Sachs, Heather Shemilt. Carmen Elena Ochoa de Medina, a former CNAD regulator, is also involved in the initiative, Perkin said.

Neither nor CNAD immediately responded to a request for comments from Decrypt.

Peirce wrote in one Blog post Months ago, “considering ways to facilitate cross-border experiments on a limited scale and temporary time frame” was one of the initiatives that the crypto-task force worked on, with the potential for “long-term approaches”.

Perkin said that CNAD sketched a “generous offer” for structuring such a sandbox, which underlines the approval of Cnad, the potential “open to American companies”.

The SEC conversation with CNAD concentrated on two scenarios for a crypto-oriented pilot program: one with a platform that would enable investors to buy tokenized land from land, and another with “sec permitted crowdfunding” for small companies.

The sandbox would “strengthen US-EL Salvador tires, promote global regulatory harmonization” and possibly unlock an asset class of a trillion dollar, “says the SEC request, in which the proposal of El Salvador for the cross-border Sandbox is described.

The proposal follows a meeting between US President Donald Trump and the president of El Salvador, Nayib Bukele, earlier this month. The two did not discuss their shared appreciation Bitcoin Public, while controversy around a man from Maryland who was wrongly deported to El Salvador was central.

The US has adopted a crypto-friendly attitude among Trump, but El Salvador has been experimenting with Bitcoin for years. In addition to doing Bitcoin -Wetwagborny, it is being investigated Use energy from volcanoes To exploit the possession, while it is a reputation to be a tourist destination among the devoted of Bitcoin.

The country has contracted Bitcoin since 2021 and reflects the ambitions of Trump’s strategic Bitcoin reserve, which Can use rates As a way to finance Bitcoin purchases. The government of El Salvador currently has $ 573 million in Bitcoin, according to facts From Crypto Analytics Platform Arkham Intelligence.

In March, Bukele rejected Conditions set by the International Monetary Fund for a Loan of $ 1.4 billion, which means that El Salvador should effectively stop buying Bitcoin. The portfolios of the Midden -American nation still consistently receive Bitcoin, as recently as Wednesday.

Published by James Rubin