Uruguay Activates Registration for Cryptocurrency Companies

The Central Bank of Uruguay (BCU) will launch a digital channel on September 1, 2026, for virtual asset service providers (PSAV) to process their registration authorization. Registration does not guarantee automatic approval or immediate permission to operate, as the Superintendency of Financial Services (SSF) will evaluate each application. This new regime requires a minimum capital of 1,000,000 indexed units (UI) for asset custody. Companies that exchange cryptocurrencies for fiat money or among themselves must register, while software development and non-fungible tokens (NFTs) are excluded, except in certain cases. Companies in operation can continue their activities if they submit their application between September 1, 2026, and March 31, 2027. The deadline for other adjustments is June 30, 2027. Additionally, a guarantee of 600,000 UI and a sight deposit of 50,000 UI are required. Client funds cannot remain in the provider's possession for more than 48 hours.

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