The Central Bank of Uruguay stated that the call to save or invest must be made by authorized institutions, and ordered Binance to stop advertising these crypto savings products.
Central Bank of Uruguay Issues Summons to Binance Due to Its Savings Focused Cryptocurrency Products
The Central Bank of Uruguay has issued a summons to Binance, one of the biggest exchanges in the world, due to the series of crypto-based savings products they are offering in the country. These savings products, according to the bank, can only be made through verified banking institutions or by companies that issue equity in the national stock market. Uruguay still has no cryptocurrency-specific regulation.
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