The Uruguayan government has introduced legislation to the parliament that accelerates the regulation of the crypto space in the country and establishes the central bank as the regulatory authority.
Introduced on Sept 5, the bill strives to clarify the country's regulatory framework for cryptocurrency assets, stating that all companies that provide digital asset-related services, including initial coin offerings (ICOs) are under the supervision of the Superintendency of Financial Services (SSF), a central bank entity. Cryptocurrency exchanges, custody services and any financial services relating to these digital assets should also adhere to Anti-Money Laundering regulations and best practices.
Additionally, the document defined four types of digital assets: stablecoins, governance tokens, tradable assets and debt tokens, saying:
"If the activity carried out with these instruments involves the exercise of financial intermediation or financial activity, it will be subject to the...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...