TechFlow News, May 30: According to CriptoNoticias, Juan Manuel Sobral, President of the Uruguayan Blockchain Chamber, criticized the country’s ongoing cryptocurrency regulatory proposal, stating that the draft rules contain significant flaws. Sobral noted that the draft fails to differentiate risk levels across distinct cryptocurrency business models and imposes an entry bond requirement of up to $100,000—placing a heavy burden on startups. He also pointed out that the regulatory framework overlooks the developmental characteristics of emerging areas such as NFTs and RWAs. Sobral warned that overly rigid regulatory policies could drive local crypto enterprises to expand overseas, negatively impacting Uruguay’s tax revenue and industrial competitiveness.
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