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Its model, inspired by Europe, seeks to attract large technology companies.
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This plan relies on a united and thriving local community that drives adoption from the base.
Uruguay designs its route to embrace the digital economy that resonates throughout Latin America. It is not the disruptive and high voltage path that El Salvador chose four years ago, but a methodical construction based on stability and legal certainty.
The recent edition of the Blockchain Summit Global in Montevideo confirmed this strategy. He made it clear that the country does not seek to compete, but lead in its own terms, attracting an investment profile that value regulation. Unlike the disruptive model of El Salvador, limited by restrictions of the International Monetary Fund (IMF) and Low Adoption, Uruguay is committed to stability.
The epicenter of the debate in the event that brought together the community in the Uruguayan capital was the regulation. In a panel that brought together the key figures of the Central Bank of Uruguay (BCU) and lawyers, the message was unanimous when pointing out that Uruguay is in a regulatory maturation phaseand is doing it with surgical precision.
The most significant movement is the modification of the Organic Charter of the Central Bank of Uruguay (BCU) to include the figure of the Virtual Assets Services Supplier (PSAV). establishing a clear frame to attract investment.
Although the secondary regulations are still under development, Patricia Tudisco, of the BCU, said that the framework will be published this August and will be based on three pillars. These are consumer protection, compliance with anti-launching money and alignment standards with international standards.
This approach, described by panelists as «Progressive legal certainty,» is the main asset in Uruguay. Instead of adopting a rupture model, the country is creating a predictable environment, but with an incalculable value for technology companies that seek to establish operations in the region, as the specialized lawyer Pablo Zanetta commented to cryptonotic.
The question of whether Uruguay seeks to compete with El Salvador in the race for being the great technological hub of the region finds a strong response in Zanetta’s vision.
As he sees it, the approach with which the South American nation is moving is much deeper. «Uruguay is working with the idea of continuing to be Uruguay, that is, a politically stable country that offers legal certainty,» he explained in exclusive comments.
Zanetta clarifies that the country He does not have to compete directly with the Salvadoran model, which he considers «too disruptive» for Uruguayan idiosyncrasy.
«Uruguay seeks to emulate Europe with advanced regulations,» he says, citing as examples regulatory frameworks such as the General Data Protection Regulations (GDPR) of the European Union or the Law for Cryptoactive Markets (MICA).
For the lawyer, Uruguay does not seek to imitate Europe explicitly, but its policies reflect values that are embodied in regulatory frameworks such as transparency, stability and data protection. This as a natural strategy to lead in the digital economy, with the idea of promoting trust and ensuring that users are protected when they operate on bitcoin and cryptocurrency platforms.
The objective, then, is not to attract any investor, but to a specific profile. «Rather, [Uruguay busca] Make a basis for operations for large companies in this region, and companies in the region that seek legal certainty, ”concludes Zanetta.
He adds that in that way, the small Uruguayan market becomes an advantage, allowing him to focus on being a high -value services center instead of a mass consumption market.
The feeling of a thriving community: beyond regulation
Beyond the regulations, «Uruguay’s impulse also comes from his Bitcoin community.» This is seen by Franco Scandizzo, correspondent for cryptonoticia in the Montevideo event, captures an atmosphere that goes beyond the technical panels.
«The seventh edition of the Blockchain Summit Global was not one more,» says Scandizzo. «The number of people who witnessed it, the number of voices that were felt and the amount of expectant ears to listen to a single prayer: ‘We hug the cryptocurrencies!'» He added.
This unifying energy, which brought together lawyers, executives of Exchange and Miners of Bitcoin, reveals the other face of the Uruguayan currency. It is not just an elite or institutions project; It is a movement with a passionate base.
Scandizzo describes him as described by a united and passionate Uruguayan community, promoting the adoption of Bitcoin and cryptocurrencies from the base ”.
This popular fervor, added to the launch of the Uruguay Blockchain camera during the event, creates a perfect synergy, said the reporter. Visualized a community that pushes from below and an institutional framework that builds from above. It is this combination that it is what is positioned to Uruguay in a dynamic ecosystem and with a vision of the future.
In that sense, the road is drawn. While the region observes and other countries such as Brazil and El Salvador already occupy a leadership position in terms of regulation on the digital asset industry, Uruguay plays its own party. One where the calculated evolution and institutional stability are the real keys to win the background in the digital economy.