Report Suggests Colombia May Ban Some Bitcoin Transactions
A report from the El Tiempo news publication in Colombia reports that the country's Superintendency of Finance, the national bank, and the Ministry of Finance are poised to release a document that will not only make clear of the country's stance on digital currency, but warn citizens of the perils of getting involved (much like other countries have). More alarmingly, the report could ban the usage of digital currency by financial institutions - namely bitcoin. Said report could be released as soon as Tuesday upcoming. The move comes two weeks following a statement from the Central Bank....
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Colombia may ban Bitcoin transactions next week. El Tiempo is reporting that Colombia is planning to ban all Bitcoin-related transactions next week. This news comes as quite a shock because the fact of the matter is Colombia is not exactly the first country that people think about when it comes to hotspots of cryptocurrency. The Finance Superintendent of Colombia has claimed that virtual currencies are not safe because they have no backing from government. He claims that Colombia already has a safe and useful currency and there's no reason for people to use bitcoins. The El Tiempo article....
The Superintendencia Financiera de Colombia (SFC) may be close to outlawing bitcoin transactions in the South American country, a report from a major nationally distributed newspaper claims. El Tiempo reported on 20th March that the SFC, in conjunction with Banco central de Colombia, Colombia's central bank, and the Ministerio de Hacienda y Crédito Público, the executive body responsible for budgetary concerns, is preparing to issue a document outlining the government's stance on bitcoin and bitcoin-related activities. According to El Tiempo, the SFC is set release the circular outlining....
Some rumors floating around last week indicated that Colombian authorities might seek to ban bitcoin transactions. Specifically, the report originated from the El Tiempo publication, which suggests a circular was due out this week. That document is available as of today (posted here, item #29), and the good news is that bitcoin, nor bitcoin transactions have not been banned. The Financial Supervisory Authority of Colombia instead took the opportunity to warn the public of the risks of getting involved with bitcoin, much like many other companies have done at this juncture. The document,....
Bitcoinexaminer reports that Colombia’s central bank, the Superintendencia Financiera de Colombia, has issued a document that suggests all Bitcoin activity in the country will soon be illegal. According to local newspaper. "Most importantly … the Colombian state is the one with a monopoly over money. Our currency is reliable, safe and generates no risk, while other forms of money do not have the same level of support and guarantees.” Tuesday’s announcement will be the Colombian government’s first public mention of digital currencies. An unnamed source in the El Tiempo report hinted that....