El Salvador Pitches Cross-Border Crypto Sandbox to SEC

El Salvador is pushing forward with an ambitious $10,000 cross-border crypto sandbox proposal, presenting it to the U.S. Securities and Exchange Commission (SEC) as a testing ground for token classification and broker-dealer oversight. The initiative, spearheaded by the country’s National Commission on Digital Assets (CNAD), leverages its existing tokenization framework to provide U.S. regulators with real-world data. During a late April meeting, representatives from the CNAD, Perkin Law Firm, and a retired Goldman Sachs partner pitched the plan to the SEC’s Crypto Task Force, framing it as a live experiment in digital asset regulation. The sandbox would operate under El Salvador’s regulatory infrastructure, though no specific tokens or exchanges were named. The move underscores the Central American nation’s continued embrace of crypto innovation, even as global regulators grapple with classification and enforcement challenges.