Uruguay BCU Expands Financial Controls

Update August 23, 2026: the BCU not only confirmed the 100% online process for virtual asset service providers, it also published a mandatory sworn declaration for those who begin collecting public funds after Communication 2026/116 takes effect. That filing must be submitted before operations start.

The Banco Central del Uruguay said it will roll out a fully online procedure starting in September 2026 so Virtual Asset Service Providers can apply for the authorization and registration needed to operate under the country’s new virtual asset regulatory framework. The move is meant to simplify filings with the regulator and adds to a series of recent changes in Uruguay’s financial compliance regime.

What did the BCU enable for virtual asset providers?

The BCU will allow a fully digital filing so Virtual Asset Service Providers can request authorization and registration. The rollout was announced with implementation scheduled for September 2026, according to the communication released by the agency and reported by Ámbito.

The announcement comes as Uruguay continues to adjust oversight of regulated financial activity. According to Global Tax Uruguay, companies carrying out regulated financial activities must comply with financial licenses and Central Bank supervision, as well as minimum capital requirements, corporate governance rules, periodic reporting and transparency obligations.

What does the new BCU sworn declaration require?

Communication No. 2026/116 says that anyone who starts collecting public funds after it takes effect must submit a sworn declaration before beginning operations. According to Guyer & Regules, that creates a market-entry condition similar to the one applied to formal financial entities.

The requirement applies to new entrants seeking to enter the market after the rule is in force, and it strengthens the Central Bank’s prior-control framework. In practice, the agency is adding one more formal step before business activity begins, in line with the level of supervision already applied to other financial entities.

What was discussed about bank secrecy in the Rendición de Cuentas?

During the 2026 Rendición de Cuentas, lawmakers discussed a provision that would have allowed entities supervised by the Central Bank to share information protected by confidentiality or bank secrecy with their parent companies, branches, subsidiaries or other group entities, inside or outside Uruguay, to prevent money laundering and terrorist financing. However, the change was dropped again and was not approved.

Ámbito reported that the proposal did not move forward in Parliament, and la diaria said the Chamber of Deputies debated the issue in a politically contentious session. The wording was intended to authorize information sharing among related entities within the same economic group, but the article was not incorporated.

How does this connect to Uruguay’s financial regime?

The key point is that Uruguay is tightening, on one side, the registration and authorization paths for new actors such as virtual asset service providers, while keeping bank secrecy unchanged after the legislative failure in the Rendición de Cuentas. At the same time, the financial supervision framework continues to require licenses, controls and reporting from regulated entities.

Together, these rules leave financial and virtual asset operators in a more formalized compliance environment, with the BCU acting as a central authority for authorization and oversight. In that framework, the transparency obligations mentioned by Global Tax Uruguay also include a beneficial ownership registry accessible to competent authorities.