El Salvador proposes cross-border crypto with sand to break

The National Commission El Salvador on Digital Property, in cooperation with the American law firm Perkin law firm and former Goldman Sachs Partner Heather Shemilt, proposed a cross-border CRIPTO CRYPTO section in American securities and the Commission for the section.

Initiative, discovered in SEC CRIPTO WORKING GROUP Meeting logs 22. April is designed to provide sec with real-time data and insights from regulated activity of digital assets in El Salvador.

Sandbox would allow us to allow us regulators and Salvadoran Joint view small tokenization projects Under El Salvador’s digital asset regime, which has developed during the last five years.

CNAD has developed a comprehensive risk matrix and regulatory model through live experiments in the tokenization, especially in real estate and attracted global players.

Two Pilot Programs for Sandbox

The proposal includes two pilot programs. First includes a broker by American licensing that receives a limited license for digital assets from CNAD to start the real estate platform. Investors could buy fractional actions in Salvadoran property, and each scenario is limited to $ 10,000 in exposure.

The project is intended to be recognized in the protection of investors, medium trading by digital resources and regulatory clarity around the classification of certain tokens as “non-securities”.

The second scenario focuses on tokenized capital lifting. The small job in El Salvador would collect funds through tokenized capital, again below $ 10,000. The goal is to assess how many tokenized bids are compared to the American rules of crowds, potentially informing the future SEC Guidelines.

The team behind the proposal includes Erica Perkin, a lawyer and adviser who is trained for CNAD; Juan Carlos Reies, CNAD’s president; A Carmen Elena Ochoa de Medina, a former financial regulator who is now working in the tokenization.

The American mediator will be selected with SEC entering to ensure compliance with American compliance standards.

Sandbox matches five priorities listed in the Commissioner Hester Peirce Statement of cryptic policyIncluding cross-border cooperation, regulation of broker-dealers, standards of guardianship and treatment of bids of coins and tokens.