{"id":196278,"date":"2021-08-05T11:00:32","date_gmt":"2021-08-05T10:00:32","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=196278"},"modified":"2021-08-05T12:48:54","modified_gmt":"2021-08-05T11:48:54","slug":"uruguay-senator-proposes-bill-to-classify-bitcoin-and-other-crypto-as-legal-tender","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/uruguay-senator-proposes-bill-to-classify-bitcoin-and-other-crypto-as-legal-tender\/","title":{"rendered":"Uruguay senator proposes bill to classify Bitcoin and other cryptos as &#8216;legal tender&#8217;"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A senator in the Uruguayan parliament, Senator Juan Satori has joined the <a href=\"https:\/\/cryptoslate.com\/tanzanias-president-is-now-calling-for-bitcoin-and-crypto-adoption\/\">league of politicians supporting Bitcoin<\/a>\u00a0as he recently introduced a draft bill that proposes the regulation and enablement of the adoption of crypto payments by businesses.<\/span><\/p>\n<h2><strong>Crypto for business in Uruguay\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Per Satori\u2019s bill, \u201ccrypto assets will be recognized and accepted by the law and applicable in any legal business. They will be considered a valid means of payment, added to those included in the Law of Financial Inclusion.\u201d If approved, this means that businesses within the jurisdiction of the country would now be allowed to accept cryptocurrencies for their goods and services.<br \/>\n<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">Las criptomonedas son una oportunidad para crear inversi\u00f3n y trabajo. Hoy presentamos un proyecto de ley, pionero en el mundo, que busca establecer un uso leg\u00edtimo, legal y seguro en los negocios vinculados con la producci\u00f3n y comercializaci\u00f3n de monedas virtuales en Uruguay.<\/p>\n<p>&mdash; Juan Sartori (@JuanSartoriUY) <a href=\"https:\/\/twitter.com\/JuanSartoriUY\/status\/1422567884916772866?ref_src=twsrc%5Etfw\">August 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Senator Satori is a member of the ruling party in Uruguay. The party holds the majority seat in the country\u2019s parliament with 10 out of the 30 seats in the legislative chamber. This could be a plus for the bill which would see the government issue three kinds of licenses to businesses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the first license, businesses can \u201c<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">trade crypto assets<\/a>.\u201d The second license allows them to \u201cstore, retain, or safeguard crypto assets,\u201d i.e. provide custodial services to their clients. While the last license would allow these businesses to issue \u201ccrypto tokens with financial characteristics.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, the bill empowers the country\u2019s National Secretariat for the Fight Against Money Laundering and Terrorism Financing to regulate, control, and audit the license holders from time to time.<\/span><\/p>\n<h2><strong>South American countries continue to lead the pack<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Since news of <a href=\"https:\/\/cryptoslate.com\/el-salvadors-bitcoin-bill-has-5-key-benefits-says-bank-of-america\/\">El Salvador\u2019s adoption of Bitcoin<\/a> as a legal tendency became widespread, a number of American countries have also stepped up their activities towards adopting digital assets as a legal tender within their country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to available information, countries like Panama, Paraguay, Mexico, and Argentina have introduced a bill that is crypto-related in nature.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These bills have mostly sought to embolden the use of these virtual currencies within their country.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A senator in the Uruguayan parliament, Senator Juan Satori has joined the league of politicians supporting Bitcoin\u00a0as he recently introduced a draft bill that proposes the regulation and enablement of the adoption of crypto payments by businesses. Crypto for business in Uruguay\u00a0 Per Satori\u2019s bill, \u201ccrypto assets will be recognized and accepted by the law [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":196272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,60793,11],"tags":[74060,76895,76894],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uruguay senator proposes bill to classify Bitcoin and other cryptos as &#039;legal tender&#039;<\/title>\n<meta name=\"description\" content=\"A new draft bill has been submitted in Uruguay which would see businesses in the country accept crypto assets as a means of payment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/uruguay-senator-proposes-bill-to-classify-bitcoin-and-other-crypto-as-legal-tender\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uruguay senator proposes bill to classify Bitcoin and other cryptos as &#039;legal tender&#039;\" \/>\n<meta property=\"og:description\" content=\"A new draft bill has been submitted in Uruguay which would see businesses in the country accept crypto assets as a means of payment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/uruguay-senator-proposes-bill-to-classify-bitcoin-and-other-crypto-as-legal-tender\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-05T10:00:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-05T11:48:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/08\/uruguay-bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/uruguay-senator-proposes-bill-to-classify-bitcoin-and-other-crypto-as-legal-tender\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/uruguay-senator-proposes-bill-to-classify-bitcoin-and-other-crypto-as-legal-tender\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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