TheTokener recently reported about the hardships South America’s crypto community is facing. This region of the world is desperately seeking for certain regulations. There will be a lot of potential for Fintech companies and crypto-related businesses in South America as people are beginning to realize new opportunities that might arise from these innovations. In the midst of confusing banks and governments actions towards crypto space, Uruguay might bring new regulations that could serve as a spark for other countries to regulate their crypto space, creating one fully regulated crypto market consisting of all South American countries.
New Uruguay Regulations
As BNamericas reports, fintech chamber in Uruguay is about to form a special committee which will have a task to propose certain cryptocurrency regulations in the country. This committee should work with the authorities in the area of laws in order to find the best solution for growing crypto community.
Sebastian Olivera, Uruguay fintech chamber founder, and their former president stated that new cryptocurrency drafts will need to pass through established institutional channels. Olivera also said that they realize that there cannot be any activity developed outside of the reach of the regulatory sphere, especially regarding…