Cryptocurrency is legal in Uruguay following the enactment of Law No. 20,345 in September 2024, which formally recognizes virtual assets and establishes a comprehensive regulatory framework (1). The law designates the Central Bank of Uruguay as the primary regulator and supervisor for companies seeking to provide cryptocurrency services (1). Virtual assets are defined as electronic representations of value that can be transferred through blockchain networks, though they are not recognized as legal tender in Uruguay (1).
The Central Bank of Uruguay oversees Virtual Asset Service Providers and is responsible for issuing operational licenses to organizations providing crypto services, considering factors such as legality, opportunity, and convenience (1). The law amends existing anti-money laundering and counter-terrorism financing regulations to bring virtual assets under the control and supervision of enforcement agencies (1). The Financial Services Superintendence must identify exchanges, wallets, and miners that fall under the VASP category for regulatory compliance (1).
"With a robust regulatory framework underway, high-value technical capabilities, and emerging institutional alliances, Uruguay is strengthening its role as a reliable and forward-thinking hub for digital economy development in Latin America."
Secondary regulations are being developed by the Central Bank with publication expected to establish core principles including financial consumer protection, anti-money laundering compliance, and alignment with international standards (2). The law introduces the concept of decentralized securities, which are issued, stored, transferred, and traded electronically through distributed ledger technology (1). Uruguay's stable democracy and clear regulatory approach position it as a leader among Latin American countries that have integrated cryptocurrencies into their legal frameworks (1)(2).
Source:
https://www.uruguayxxi.gub.uy/en/news/article/uruguay-builds-a-clear-and-competitive-regulatory-landscape-for-crypto-innovation/
https://www.bcu.gub.uy/NOVA-BCU/SiteAssets/ENG%20Marco%20conceptual%2010.12%20Publicable_NOVA.pdf
Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
