The United States is adopting a crypto regulatory approach similar to El Salvador’s, according to Michele Crivelli, founder of NexBridge, a firm focused on real-world asset tokenization.
In a recent interview Crivelli highlighted the significance of having an independent regulatory body to oversee digital assets. He praised the U.S. for establishing the Working Group on Digital Asset Markets, comparing it to El Salvador’s creation of the National Commission of Digital Assets in 2021.
“The United States is doing something that El Salvador did in 2021. They created a special commission to study how to implement a legal framework for crypto, just like El Salvador did,” Crivelli explained.
He also pointed out that smaller countries, such as El Salvador, often take the lead in adopting digital assets due to having less at stake. Once these smaller nations demonstrate the benefits of a digital economy, larger countries like the U.S. are more likely to follow. This trend reflects a growing global interest in cryptocurrencies and blockchain technology.
In fact, asset manager Anthony Pompliano made similar comments in November, citing both El Salvador’s and Bhutan’s steady Bitcoin accumulation as evidence that the worldwide competition for Bitcoin is gaining momentum.
El Salvador Repeals Bitcoin Legal Tender Law but Continues Accumulation
Despite rolling back its Bitcoin legal tender law in January 2025 as part of a loan agreement with the International Monetary Fund (IMF), El Salvador continues to add Bitcoin to its national reserves. The IMF had pressured the country for months to reverse its pro-Bitcoin policies before finalizing the loan deal.
The repeal ended the requirement for businesses to accept Bitcoin as a form of payment, a move that disappointed many Bitcoin enthusiasts. However, El Salvador remains committed to Bitcoin, recently purchasing 12 more BTC, valued at over $1.2 million at the time of acquisition. This brings the country’s total Bitcoin holdings to just over 6,051 BTC.
In a sign of El Salvador’s ongoing commitment to a crypto-friendly environment, stablecoin issuer Tether announced plans to relocate its headquarters to the country, citing favorable regulations.
