--- title: "Asset tokenization in Uruguay: Law 20.345, the Central Bank and the trust" url: "https://www.unknowngravity.com/en/articulos/asset-tokenization-in-uruguay" site: Unknown Gravity published: "2026-09-21T12:09:02+00:00" modified: "2026-09-21T12:27:00+00:00" language: en-US description: "Uruguay is the Southern Cone country that legislated virtual assets in an orderly way: Law 20.345 placed providers under the Central Bank and made clear that a virtual asset that is a security…" section: "Home > Cryptocurrencies and tokens > Asset tokenization in Uruguay: Law 20.345, the Central Bank and the trust" --- # Asset tokenization in Uruguay: Law 20.345, the Central Bank and the trust BLOG · LEARN WEB3 21 SEP 2026 2 MIN READ [Jesús Sánchez Fernández](/en/autores-post-del-blog/jesus-sanchez) ![Asset tokenization in Uruguay: Law 20.345, the Central Bank and the trust](/wp-content/themes/unknowngravity/assets/cms/667951006e75818d48be6f95_Tokenization%20in%20real%20estate%20header.webp) **Uruguay is the Southern Cone country that legislated virtual assets in an orderly way: Law 20.345 placed providers under the Central Bank and made clear that a virtual asset that is a security follows the Securities Market Law.** With institutional stability, a mature trust industry and a financial-hub vocation, it is one of the most predictable jurisdictions in the region for structuring. ## The framework: Law 20.345, BCU and SSF **Law 20.345** brought virtual assets into the perimeter of the **Central Bank of Uruguay**: virtual asset service providers (PSAV) need a licence and supervision by the Financial Services Superintendence (SSF), with anti-money-laundering and user-protection duties. Virtual assets that are securities — the case of almost all investment tokenization — are governed by **Law 18.627** on the securities market and the same SSF: issuer registration, investor information and, if there is a public offering, its requirements. ## The vehicle: the Uruguayan trust **Law 17.703** on trusts is one of the most used in the region: financial trusts that issue securities backed by the trust estate, with professional trustees registered with the BCU. It is the Uruguayan variant of the Latin American [fideicomiso](/en/glosario/fideicomiso) and the natural vehicle for representing the trust's participation certificates or debt securities in tokens. ## What is being tokenized Real estate (Montevideo and Punta del Este attract regional capital), agriculture and livestock — Uruguay exports cattle traceability and tokenizing farm income fits naturally — and mid-size corporate debt. The reading for an issuer: the country offers framework, trustee and local institutional investors; what it demands is doing it to public-offering standards from day one. ## How we work with issuers in the country The anatomy does not change from country to country: classification of the asset, a vehicle with segregated assets, a token with transfer restrictions, verified identity on every transfer and serious custody — the [seven-layer platform](/en/articulos/regulated-tokenization-platform) we build, with the local legal layer on top and a local counsel alongside. The full map of the region is in [tokenization in Latin America](/en/articulos/asset-tokenization-in-latin-america). *Framework described as of mid-2026; regimes change — check the current status before structuring.* Project in Uruguay? [Talk to us](/en/meeting). KEEP READING ## Related articles [21 SEP 2026 Asset tokenization in Bolivia: the Central Bank turn of 2024, ASFI and the trust](/en/articulos/asset-tokenization-in-bolivia) [21 SEP 2026 Asset tokenization in Venezuela: a crypto framework on hold, SUNAVAL and how to structure under uncertainty](/en/articulos/asset-tokenization-in-venezuela) [21 SEP 2026 Asset tokenization in Guatemala: no crypto law, the Securities Market Registry and the commercial trust](/en/articulos/asset-tokenization-in-guatemala)