**SEC Explores Cross-Border Regulatory Sandbox Initiative to Advance Digital Asset Innovation**

A proposal submitted to the U.S. Securities and Exchange Commission (SEC) by Perkin Law Firm, El Salvador’s National Digital Assets Commission (CNAD), and former Goldman Sachs executive Heather Shemilt advocates for a **cross-border regulatory sandbox** to spur innovation in digital asset regulation. Detailed in an April 22, 2025, memo from the SEC’s Crypto Assets Special Working Group, the initiative seeks to enable collaboration between U.S. regulators and international counterparts, leveraging real-world data to refine and modernize America’s digital asset regulatory framework. This partnership could position the SEC at the forefront of global crypto governance while balancing market growth and investor protection.