Uruguay Wants to Allow Crypto Payments

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Juan Satori, an Uruguayan senator, has recently introduced a draft bill aimed at regulating cryptocurrencies in the country and allowing companies to accept them as a means of payment.

The senator has announced via Twitter the following:

Las criptomonedas son una oportunidad para crear inversión y trabajo. Hoy presentamos un proyecto de ley, pionero en el mundo, que busca establecer un uso legítimo, legal y seguro en los negocios vinculados con la producción y comercialización de monedas virtuales en Uruguay.

— Juan Sartori (@JuanSartoriUY) August 3, 2021

Cryptocurrencies are an opportunity to create investment and jobs. Today we present a bill, pioneer in the world, which seeks to establish a legitimate, legal and safe use in businesses related to the production and marketing of virtual currencies in Uruguay.

Uruguay is not the only Spanish-speaking country interested in the adoption of cryptocurrencies by the masses. For example, El Salvador has recently allowed the use of Bitcoin as legal tender. However, Uruguay does not want to go so far. At the moment, the daft bill only proposes the use of cryptocurrencies as a means of payment.

According to the bill, “crypto assets will be recognized and accepted by the law and applicable in any legal business. They will be considered a valid means of payment, added to those included in the Law of Financial Inclusion.”