The SEC is discussing cross-border regulatory sandbox cooperation with El Salvador's digital asset agency, focusing on pilot projects for real estate and financing tokenization.

According to Wu, the U.S. SEC's cryptocurrency special task force met with Perkin Law Firm, the National Digital Assets Commission of El Salvador (CNAD), and former Goldman Sachs partner Heather Shemilt to discuss cross-border sandbox pilot cooperation for the regulation of crypto assets. CNAD plans to jointly conduct two regulatory sandbox scenarios with the SEC: one for American brokers to obtain digital asset licenses under the CNAD framework and promote small-scale property tokenization pilots through licensed tokenization companies; the second for small businesses to raise funds not exceeding $10,000 in a tokenized form, simulating issuance practices under U.S. crowdfunding rules.