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Stablecoin issuer Tether has announced it will be launching Bitcoin mining operations in Uruguay.In a May 30 announcement, Tether said it planned to start a mining arm in the South American nation “in collaboration with a local licensed company” in addition to investing in Uruguay’s energy production. The stablecoin issuer
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Summary: Tether plans to tap into Uruguay’s renewable energy ecosystem and mine Bitcoin (BTC), crypto’s largest token by market cap.The digital payment company is looking to diversify its operations after solidifying USDT’s position as the top stablecoin with an 83 billion token supply.Tether recently started buying Bitcoin with 15% of
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A new cryptocurrency bill project was introduced by the executive power to the Parliament of Uruguay. The bill seeks to clarify how crypto assets will be regulated in the country, giving the Central Bank of Uruguay competence over cryptocurrency assets, modifying its organic charter, and introducing the Superintendence of Financial
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The Central Bank of Uruguay has issued a summon to Binance, one of the biggest exchanges in the world, due to the series of crypto-based savings products they are offering in the country. These savings products, according to the bank, can only be made through verified banking institutions or by
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Uruguay has reportedly installed its first Bitcoin (BTC) ATM, making it the 11th South American country to publicly encourage crypto adoption. Prior to Uruguay’s involvement, South America hosted 79 ATMs, which represented 0.2% of global BTC ATM installations.According to Ámbito, Uruguay’s first crypto ATM was installed in the coastal city
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The ostensible first cryptocurrency ATM machine has been installed in Uruguay, developed as a joint initiative between Urubit and Inbierto, two national crypto companies. This represents a milestone for the country, which according to estimates has between 40K and 50K cryptocurrency users, whose primary avenue for purchasing crypto relies on
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The Central Bank of Uruguay has issued a statement describing a roadmap for the regulation of cryptocurrency assets in the near future. The institution stated it has established a group to examine the best way possible to regulate these assets, considering the realities of the crypto industry. Also, some modifications
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Los activos digitales no son de curso legal como sí lo es el peso uruguayo, y no son emitidos ni están respaldados por ningún banco central, dijo el BCU, entidad que añadió que la emisión y negociación de activos digitales no entran en el ámbito de actividades del banco central,
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In 2021, the BCU created an internal working group to study instruments and operations with virtual assets using an interdisciplinary approach. As a result of this initiative, the entity developed a “conceptual framework based on the business reality of the different operations involving virtual assets, including both new activities and
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