2 years ago
A caller cryptocurrency measure task was introduced by the enforcement powerfulness to the Parliament of Uruguay. The measure seeks to clarify however crypto assets volition beryllium regulated successful the country, giving the Central Bank of Uruguay competence implicit cryptocurrency assets, modifying its integrated charter, and introducing the Superintendence of Financial Services arsenic the enactment to oversee virtual plus work providers.
Uruguayan Executive Power Proposes Crypto Bill
The enforcement powerfulness successful Uruguay has presented a measure task to the parliament of the state with the nonsubjective of clarifying however cryptocurrency asset-related activities volition beryllium regulated. This, if approved, volition beryllium the archetypal measure to code the grey country successful which cryptocurrency exchanges and virtual plus work providers run successful the country.
The projected measure modifies the integrated charter of the Central Bank of Uruguay and introduces the Superintendence of Financial Services, an enactment portion of the cardinal bank, arsenic the main overseer of the activities of virtual plus work providers. In this sense, the papers establishes that custody providers, companies that facilitate the acquisition and speech of virtual assets, and 3rd parties that lend fiscal services related to the connection oregon merchantability of a virtual plus volition beryllium considered portion of this class.
However, the measure introduces different people of enactment arsenic “virtual plus issuer,” defining it arsenic a level that issues immoderate benignant of virtual plus included wrong the regulatory perimeter oregon requests admittance of regulated virtual assets connected a virtual plus trading platform.
Central Bank of Uruguay Will Be Main Crypto Watchdog
Like different instrumentality projects successful the country that present institutions arsenic the main crypto watchdogs, the projected measure puts each supervision related to these tasks successful the hands of the country’s cardinal bank. The papers declares:
With the projected modifications, some the antecedently regulated subjects and the recently incorporated entities that run with virtual assets volition beryllium taxable to the supervision and power powers of the Central Bank of Uruguay.
The substance besides makes notation to virtual plus securities, which are referred to arsenic the integer counterparts of the already known fiscal securities.
There person been erstwhile attempts astatine legalizing crypto arsenic a outgo method successful the country. A cryptocurrency measure task presented by Senator Juan Sartori past twelvemonth aimed to execute this goal. Also, successful August, the Central Bank of Uruguay issued a summons to Binance owed to its offering of savings-oriented cryptocurrency-based fiscal products.
What bash you deliberation astir the latest crypto measure connection presented successful the Uruguayan parliament? Tell america successful the comments conception below.
English (US) 