Uruguay Proposes Bill to Allow Crypto For Payments

Uruguay has introduced a bill that will allow businesses to accept cryptocurrencies as payments.

The Uruguay bill will also regulate their use within Uruguay. Senator Juan Sartori introduced the bill on Tuesday. It seeks to provide “legal, financial and fiscal security in the business derived from the production and commercialization” of cryptocurrencies.

The bill says:

“Crypto assets will be recognized and accepted by law and applicable in any legal business. 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.”

All in all, more and more South American countries are experimenting with cryptocurrencies.

For example, El Salvador made Bitcoin legal tender. Many other South American countries are doing the exact same thing.

Could this be a lasting trend where we will see more and more countries entering the crypto industry?

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