El Salvador pitches $10,000 cross-border crypto sandbox to SEC for token tests

Officials from the United States and El Salvador are discussing the creation of a regulatory sandbox to focus on tokenization for digital assets.

The purpose of this sandbox is to deliver practical data on token classification and real-world roles of broker-dealers, enhancing regulatory clarity for future initiatives.

Recent statistics reveal that about 90% of Bitcoin service providers in El Salvador are inactive, raising questions about the effectiveness of the existing legal frameworks since Bitcoin became legal tender.