Banco Central del Uruguay (BCU) opens a two-day legal conference in Montevideo Tuesday, putting virtual asset oversight and sandbox regulation on the agenda while an online authorization process for covered firms is underway.
At the XV Jornadas de Derecho Bancocentralista, sessions will address supervision of firms offering virtual asset services and sandbox regulation. Financial consumer protection, cybersecurity and supervised financial innovation also feature in the Oct. 20-21 program, which is set to take place at the BCU in Montevideo.
The BCU’s Financial Services Superintendency (SSF) set standards in July for authorizing and supervising firms that provide virtual asset services. Its provisions address customer safeguards, risk controls, information security and measures to prevent money laundering. The BCU opened an online authorization and registration process for those firms on Sept. 1.
The BCU said the framework aims to protect users and market integrity while supporting innovation. It cited wider global use of virtual assets as context. The conference runs through Wednesday, Oct. 21.
