Uruguay plans to legalize cryptocurrency

Uruguay is discussing a bill to legalize and regulate cryptocurrency transactions in the country.

Introduced by Senator Juan Sartori, the bill aims to ensure the legalization and regulation of cryptocurrency businesses and the acceptance of digital assets as a means of payment. 

If the document is approved by parliament, it will ensure the use of digital currency in any legal activity in the country.

The initiative provides for obtaining licenses for trading digital assets, for custody services in this area and for the issuance of cryptoassets or service tokens.

Anyone who wants to create and trade digital assets will need to register with the government agency responsible for combating money laundering and terrorist financing.

Moreover, the law will also regulatemining cryptocurrency. Mining companies will not need a special license, but they will still need to obtain special permits from the Uruguayan Ministry of Industry and Energy.

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