The normative sandbox will allow regulators of the United States and Salvador to jointly monitor the development of projects related to digital assets and tokenization. This will happen in a controlled environment, where the regulators of both countries will be able to see real examples of using crypto assets before developing strict rules for them. The authorities of Salvador are ready to share their experience with the United States, since in September 2021 Salvador recognized Bitcoin as a legal payment vehicle.
The CNAD offer includes two pilot programs. The first applies to real estate tokenization. It is assumed that a broker licensed in the US will receive a limited license for the sale of tokenized shares from CNAD. Each investor can introduce up to $ 10,000. This will allow you to check the functionality of real estate tokens, after which regulators will be able to decide whether they should be considered securities in accordance with the laws of the United States.
The second program is aimed at attracting tokenized capital for small businesses. The Salvador company will attract capital by offering investors tokenized shares. The regulators will have to determine whether the US laws on crowdfunding can be applied to the collection of funds based on blockchain. Both pilot projects are aimed at making normative clarity in the regulation of cryptocurrencies and protection of investors.
The Commissioner SEC Esther Peirce has already advanced for conducting international experiments in the field of cryptocurrencies. Last year, the Pierce proposed creating a common normative sandbox with Great Britain to test calculations with tokenized securities.
Source: Bits
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