Uruguay next to adopt a crypto bill?

Team Luno
Back to blog


1 minute read

  • A Uruguayan senator has revealed a bill that will allow the use of cryptocurrencies as payments in contracts. The bill would also regulate their use within the South American country.

 

  • The bill seeks to provide “legal, financial and fiscal security in the business derived from the production and commercialization” of cryptocurrencies.

 

  • It also proposes that crypto assets will be recognised by law and applicable in any legal transaction, yet it will not be treated as legal tender.

 

  • The bill states: “They will be considered a valid means of payment, in addition to those included in the financial inclusion law, as long as they comply with the rules set forth in the law and the regulations.”

 

  • This makes Uruguay the fifth country in Latin America to push for cryptocurrency payments. Will it be successful?
Avatar Team Luno
Author

Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @LunoGlobal.

It’s never too late to get started

Buy, store and learn about cryptocurrency today

Desktop Icon Apple App Store Logo Google Play Store Logo