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Senator Juan Satori has drafted a bill to enable businesses across the country to accept cryptocurrency payment, Satori also join list of senators that desire the adoption cryptocurrencys system.

The senator disclosed his intentions via a tweet through his official tweeter handle on Wednesday 4 of August disclosing their intentions to introduce the bill to help both the legal and safe use of the digital currency in various businesses in the country. The bill intends to legalize Crypto Assets and give access to legal entities to participate in its usage.

When the bill is passed and approve by the Senates in the house, the success of the bill will provide three types of authorizations for businesses, first, it will allow organizations to trade on different exchanges, secondly, this will will give organizations needed approval and help to safeguard, retain or hold any Crypto assets, and lastly this will allow the issuance of Crypto assets or Crypto Tokens with financial characters. SENACLAFT will help license, regulate and control all crypto holders in the country.

Senator Satori a member of the senate further points that the portions of investors of the Digital Asset in the country is really low compared to the total population of the country, highlighting the importance of Crypto adoption in the country to help promote and protect various investors in the country.

This latest developments put Uruguay among the countries looking to adopt Cryptocurrency in their country to help regulate and improve their economy.

By July last month the Paraguayan government introduce the Bitcoin Law. the Argentinean government also seeks for gee workers to be paid in Cryptocurrency. If the bill is passed it will enable various exchanges to be licensed and work in the county with both local and international body. The bill also aimed at imploring firms to comply with the Anti-Money Laundering and Terrorism and Financial Laws to help implement awareness and diligence to avoid criminal activities.
A trending rumor luring in Spain also has it that the People’s party will pass a bill allowing the use of Crypto and Blockchain Technology in the country in various financial sectors.
Bringing to mind El Salvador’s bill, termed the Bitcoin Law that will be put into force by September 7 this year. Which aimed at issuing $30 to any citizen that sign up for any digital wallet in the nation allowing and giving rise to mass adoption of the digital asset.

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