Banco Central del Uruguay to Discuss Regulatory Sandbox, Virtual Asset Provider Rules

Banco Central del Uruguay (BCU) will use its Oct. 20-21 conference to address a regulatory sandbox and oversight rules for virtual asset companies, with consumer protection and cybersecurity also on the agenda.

The XV Jornadas de Derecho Bancocentralista lists the sandbox and regulation of virtual asset service providers as separate topics. The program also covers supervised financial innovation. The meeting is scheduled at the central bank in Montevideo.

In July, the BCU’s Financial Services Superintendency approved a framework setting authorization and supervision requirements for firms offering virtual asset services. The rules cover customer protection, risk management, information security and anti-money laundering. The online authorization process for covered firms began Sept. 1.

The conference begins Tuesday, Oct. 20, at the bank in Montevideo.