Senator moves to allow cryptos in Uruguay’s financial system

by: Dynasty GI2021-08-15
Uruguay senator Juan Sartori has put forward a bill that would create the conditions for businesses to accept payments in cryptos and legalise digital assets in the country.
In a statement issued via social media, the Senator explained that cryptocurrencies are “an opportunity to create investment and work” in Uruguay.
Although Senator Sartori claims the move puts Uruguay amongst the first to create a legal framework for cryptocurrencies, his proposals does not go as far as El Salvador’s digital currency legislation. The key difference, the politician explained, is that, unlike that Central American country, his bill does not propose to make cryptos an alternative legal tender.
"“Cryptos have a huge potential in Latin America and we welcome the moves made by many countries in the region to create the right legal framework for digital currencies to grow in a responsible and transparent way”, commented Paulo Ramenzoni, Dynasty Global Investments AG’s Chief Financial Officer."

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