Uruguay Central Bank Conference Covers Cybersecurity and Virtual-Asset Rules

The Banco Central del Uruguay (BCU), the country’s central bank, held a two-day conference in Montevideo on Oct. 20-21, with sessions covering cybersecurity, financial-user protection and rules for virtual-asset service providers. The XV Jornadas de Derecho Bancocentralista brought together experts from Uruguay and abroad. Discussions addressed challenges posed by new technologies and financial actors. The program listed regulatory sandboxes and virtual-asset service provider rules as separate topics, and also included cybersecurity and financial-user protection. It also covered supervised financial innovation. The conference took place while Uruguay’s authorization process for virtual-asset service providers was underway. In July, the BCU’s Financial Services Superintendency approved authorization and supervision requirements for virtual-asset service firms . The online authorization process began Sept. 1. The framework covers customer protection, risk management, information security and anti-money laundering.

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