Deep Tide TechFlow News, May 30th, according to CriptoNoticias, the Chairman of the Uruguay Blockchain Association, Juan Manuel Sobral, criticized the country's ongoing cryptocurrency regulation proposal, stating that the relevant rules have obvious flaws. Sobral said that the draft does not distinguish the risk levels of different crypto business models and also requires companies to pay a high entrance guarantee deposit of up to $100k, which would be a significant burden for startups. He also pointed out that the regulatory framework overlooks the development characteristics of emerging fields such as NFTs and RWAs. Sobral warned that overly rigid regulatory policies could push local crypto companies to develop overseas, thereby negatively impacting Uruguay's tax revenue and industry competitiveness.

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