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Russia vs Uruguay

Crypto regulation comparison

← Back to map | Russia | Uruguay
Russia

Russia

Uruguay

Uruguay

Partially Regulated
Legal

Russia's crypto regulation is complex and evolving. The 2021 'On Digital Financial Assets' law recognizes crypto as property but bans its use as a means of payment. Mining was legalized and regulated in 2024 under a new mining law. Crypto is taxed as income at 13-15%. The CBR pushed for a total ban on crypto trading but was overruled by the government, which favors regulation. International sanctions have complicated Russia's crypto landscape.

Uruguay has a generally favorable stance toward cryptocurrency. The BCU has not banned crypto and in 2024 introduced regulations for virtual asset service providers. Crypto income may be taxed at 12% under the IRPF (personal income tax) as capital income. Uruguay has a stable economy and is positioning itself as a fintech hub in Latin America.

Tax Type Income
Tax Type Income
Tax Rate 13-15%
Tax Rate 12%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CBR (Central Bank of Russia), Ministry of Finance
Regulator BCU (Banco Central del Uruguay)
Stablecoin Rules Crypto payments banned; digital ruble CBDC introduced
Stablecoin Rules No specific stablecoin regulation
Key Points
  • Digital Financial Assets law (2021) recognizes crypto as property but bans use as payment
  • Crypto mining officially legalized and regulated under 2024 mining legislation
  • Crypto income taxed at 13% (up to RUB 5M) or 15% (above RUB 5M)
  • Domestic crypto exchanges not legally operating; P2P trading widespread. CBR framework Dec 2025 targeting July 2026.
  • International sanctions have increased interest in crypto for cross-border transfers
Key Points
  • BCU introduced VASP regulations in 2024
  • Crypto income taxed at 12% as capital income under IRPF
  • Crypto not classified as legal tender; peso remains the national currency
  • Uruguay has a relatively stable economy and favorable fintech environment
  • AML/KYC requirements apply to registered VASPs
Sources
Sources