The US Securities and Exchange Commission’s (SEC) crypto task force recently met with the El Salvador National Commission on Digital Assets (CNAD) to discuss regulation and a proposed cross-border sandbox. In an April 22 memo, the SEC’s crypto task force reported the meeting with officials from El Salvador, Perkin Law Firm, and former Goldman Sachs partner Heather Shemilt as part of the commission’s outreach to the industry. The discussions focused on US-El Salvador cross-border collaboration on crypto regulation amidst heightened attention on the relationship between the two countries due to immigration and US deportations to El Salvador. The meeting notes revealed that El Salvador’s national commission agreed to collaborate with the SEC to establish a sandbox pilot program with a cap of $10,000 for each scenario. The program aims to allow US-licensed brokers to obtain a digital asset license in El Salvador and issue “non-securities” tokens in partnership with a local company. Salvadoran President Nayib Bukele has been a key figure in the country’s cryptocurrency adoption efforts since announcing Bitcoin (BTC) as legal tender in 2021. The discussions come following Bukele’s meeting with former US President Donald Trump to address a controversial $6 million deal involving deportations to El Salvador. The SEC’s new chair, Paul Atkins, recently sworn in, emphasized the importance of establishing a solid regulatory framework for digital assets. It remains to be seen how the US administration will further engage with El Salvador on regulatory matters or immigration issues. For more insights and updates on the evolving crypto landscape, stay tuned for the latest developments in the industry.