Legislators propose a bill to use cryptocurrency for transactions in Uruguay
According to reports, Uruguayan Senator Juan Satori (Juan Satori) proposed a bill to allow the use of cryptocurrency as a payment option in South American countries.
Satori submitted the bill on Tuesday, August 3, because he joined a group of Latino politicians who wanted to integrate digital currency into the community.
It is worth mentioning that the bill is not intended to make cryptocurrency legal tender. Instead, it intends to recognize and accept the use of cryptocurrency for commercial transactions. The senator said in a tweet on Wednesday:
Today, we have proposed a world pioneer bill aimed at establishing legal, legal and safe use of virtual currency in companies related to the production and commercialization of virtual currencies in Uruguay.
Satori is a member of Uruguay’s ruling National Party and hopes to gain government support through the bill. He emphasized the importance of developing a crypto-friendly policy that will promote investment while protecting investors.
Since El Salvador took the bold step to implement fiat currencies in June, many other countries have joined the ranks of cryptocurrencies, including Argentina, Brazil, and Paraguay.
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