Uruguay to Further Clarify the Legal Status of Bitcoin in New Regulation

The Central Bank of Uruguay has hinted

at the possibility of declaring bitcoin a "non-financial virtual asset," potentially securing an easier compliance path for virtual asset service providers.

Stablecoins, on the other hand, would be classified as "financial virtual assets."

Uruguay to Clarify Status of Bitcoin and Other Virtual Assets in New Regulation

The Central Bank of Uruguay has hinted at the issuance of new regulations to clarify the status of bitcoin and other virtual assets and the licenses that virtual asset service providers (VASPs) must obtain to provide

trading and custody services for these assets.

At the Blockchain Summit Global conference,