On 14 February 2023, the European Union (EU) announced that Uruguay had recently acquired the status of a "cooperating jurisdiction without commitments assumed."To be recognized as a cooperative jurisdiction, Uruguay, in prior years, has undertaken different measures to become more aligned with the EU Standards on collaboration between regions.Specifically, the Economic and Financial Affairs Council of EU (ECOFIN), highlighted the regulatory modifications adopted by Uruguay that comply with a series of recommendations they had made by in 2021. The entry into force of Law No. 20,095 helped with this favorable resolution of status as this legislation addressed certain aspects that...