Uruguay

Trading & ownership

Uruguay has taken a relatively open approach to crypto regulation. The Banco Central del Uruguay (BCU) issued a circular in 2018 clarifying that crypto is not legal tender and is not regulated as a financial instrument under existing laws. However, crypto activities are not prohibited. The BCU has been working on a Central Bank Digital Currency (CBDC) pilot. In 2023, the government issued guidance indicating crypto service providers should implement AML/KYC measures.

Payments & Commerce

Mining Operations

Exchange Licensing & AML/KYC

KYC: . AML:

Capital Gains Tax

Crypto gains may be subject to Income Tax on Capital (IRPF/IRAE) in Uruguay. Income Tax rates range from 0-36 percent for individuals.

Income Tax (Staking/Mining)

Crypto received as business income is subject to IRAE (corporate income tax) at 25 percent.

VAT & Sales Tax