By 
A new cryptocurrency bill has been introduced to the parliament by the Government in Uruguay.
The bill, seeking to provide a ruling on the regulation of cryptocurrency assets in the country makes the country’s Superintendence of Financial Services the regulatory agency for virtual asset service providers.
The bill seeks to make clear, the role of cryptocurrency exchanges and virtual asset service providers operating in the country.
According to the documents submitted to the house, the country’s central bank will be responsible for supervising the activities of players in the cryptocurrency industry.
“With the proposed modifications, both the previously regulated subjects and the newly incorporated entities that operate with virtual assets will be subject to the supervision and control powers of the Central Bank of Uruguay.” the document read.
In this sense, the document establishes that custody providers, companies that facilitate the purchase and exchange of virtual assets, and third parties that lend financial services related to the offer or sale of a virtual asset will be considered part of this class.
Also included in the bill is a clause for “virtual asset issuers,”.
In its definition, virtual assets issuers are platforms that issue any type of virtual asset.
Comments