Uruguay prepares for financial system modernization

The Central Bank of Uruguay (BCU) presented its 2026-2030 Strategic Plan, aimed at modernizing the financial system through the incorporation of artificial intelligence. A draft open finance bill is planned that would allow users greater control over their data in the sector. On the other hand, the country will seek to control inflation and promote loans in pesos, the local currency.

The plan’s main focuses are consolidating a mature monetary regime aligned with international standards; reducing the inflation target; reconstruction of peso-denominated markets, reduction of tax and parafiscal costs associated with dollarization; new investment laws.

The Central Bank of Uruguay (BCU) is working on “a draft bill for Open Finance, which would enable an ecosystem where users can have greater control over their own financial data, and design a minimum public infrastructure that functions as an interoperability layer between entities.”

The five-year plan also includes strengthening the National Strategy for Combating Money Laundering, Terrorist Financing, and the Proliferation of Weapons of Mass Destruction, approved in July of last year and in effect until March 2030.

M.Pino

Source: ambito

(Reference image source: Nikolai Kolosov on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram