Turkmenistan vs Uruguay
Crypto regulation comparison
Turkmenistan
Uruguay
Legal
Legal
Turkmenistan enacted the Law on Virtual Assets effective January 2026, legalizing crypto exchanges and mining under Central Bank licensing. Crypto is treated as property, not legal tender.
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
None
Tax Type
Income
Tax Rate
N/A
Tax Rate
12%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Turkmenistan
Regulator
BCU (Banco Central del Uruguay)
Stablecoin Rules
Regulated under Virtual Assets Law
Stablecoin Rules
No specific stablecoin regulation
Key Points
- Law on Virtual Assets enacted November 2025, effective January 2026
- Crypto exchanges and mining require Central Bank licensing
- Crypto treated as property, not legal tender
- Banks prohibited from directly providing crypto services
- Low electricity costs attract mining operations
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