Uruguay builds a clear and competitive regulatory landscape for crypto innovation

Uruguay XXI supported the seventh edition of the Blockchain Summit Global, one of Latin America’s leading events on blockchain technologies, Web3, and cryptocurrencies. Held in Montevideo, the event brought together over 60 national and international speakers and featured a full agenda of panels, workshops, and high-level networking, reaffirming the country’s standing as a regional leader in technological development.

One of the highlights was the panel “Crypto Regulation in Evolution: In Uruguay and the region... advances in what is to come,” moderated by compliance and risk expert Paula Rodríguez Medalla. The panel featured key figures such as Patricia Tudisco from the Central Bank of Uruguay (BCU), Mariela Ruanova from Dentons Jiménez de Aréchaga, Juan Diana from Brum Costa Abogados, and José María Nicola from Guyer & Regules. The conversation provided an opportunity to assess the pivotal moment the crypto ecosystem is experiencing in Uruguay and the broader region—both for companies seeking to establish operations in the country and for those already exporting blockchain-based technology solutions.

An evolving legal framework

The experts agreed that Uruguay is undergoing a stage of regulatory maturation, with significant milestones such as the recent amendment to the BCU’s Charter introducing the figure of the Virtual Asset Service Provider (PSAV). Although secondary regulations are still in development, the Central Bank announced that the new framework will be published in August and is based on core principles: financial consumer protection, anti-money laundering compliance, and alignment with international standards.

Panelists highlighted that this approach provides progressive legal certainty while keeping pace with innovation, making Uruguay a particularly attractive destination for startups and global fintech companies.

The presence of clear regulations—and the institutional commitment to updating them swiftly—is an asset highly valued by investors and technology firms looking to establish operations in Latin America in a stable, transparent, and predictable environment.

Another topic that took center stage at the event was the growing relevance of stablecoins, especially in light of the discussion surrounding the U.S. Genius Act—a bill that seeks to establish a legal framework for this type of fiat-backed digital asset. In Uruguay, the Central Bank has already stated that stablecoins meeting specific requirements—such as full backing by fiat currency—could be considered electronic money, enabling their issuance under regulated licenses.

Artificial intelligence was another focus of the Blockchain Summit Global, with several panels addressing issues ranging from data protection and security risks to business opportunities for Uruguayan technology firms.

In one of the sessions, leaders from Zapia, Infuy, Coorva, and Eidos shared how they are integrating AI into exportable services—from custom assistants and industrial applications to applied research and innovation labs. They emphasized that Uruguay has globally competitive technical talent, but also noted the urgency of accelerating AI training and strengthening infrastructure to maintain momentum.

Speakers also stressed the importance of adopting open models, ensuring data sovereignty, and tailoring AI adoption to each organization’s needs—reflecting a strategic and ethical approach to technological innovation from the South.

A new institutional framework for the blockchain ecosystem

Alongside the main program, the Summit also hosted the official launch of the Blockchain Chamber of Uruguay, which aims to serve as a key connector between the private sector, public institutions, and the broader tech ecosystem. In its institutional mission, the Chamber states its goal to “promote the growth and adoption of blockchain in Uruguay, connecting companies, startups, regulators, and experts to strengthen innovation, education, and the development of a decentralized and sustainable ecosystem.”

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.