Report Claims Colombia's Central Bank May Enact Bitcoin Ban
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....
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Colombia's Central Bank, the Banco Central de Colombia, has reportedly released a statement relating to bitcoin. In that statement, the Central Bank declares that bitcoin is not a currency, nor is it legal tender in the South American country, according to El Espectador. The Bank's statement fortified that the single monetary unit of Colombia is the peso and that bitcoin isn't considered a currency because it is, by nature, not backed by a central banking authority. Last week, the country's Financial Supervisory Authority released a statement that listed risks associated with the digital....
On Tuesday, 1st April, Banco Central de Colombia, the central bank of the South American nation, issued new statements regarding bitcoin, confirming that the digital currency is not considered a currency or a means of legal tender in the country. The news comes roughly one week after the Superintendencia Financiera de Colombia (SFC), the government body with jurisdiction over the Colombian financial system, issued a ruling that domestic banks would be barred from holding, investing in or brokering bitcoin transactions. Said the central bank, according to reports: "The bitcoin is not a....
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....
The Central Bank of Colombia is studying the launch of a digital currency, according to statements made by its manager, Leonardo Villar. The organization is evaluating the launch of this instrument as a means of unifying the different digital wallets in the country, making them interoperable and easier to use for customers.
Central Bank of Colombia Studies Digital Currency Issuance
Many governments in the world are preparing to launch digital currencies in order to compete with cryptocurrencies and other assets. Leonardo Villar, manager of the Central Bank of Colombia, recently....
The Central Bank of Colombia has announced its involvement in the first blockchain bond pilot program in the country, with the participation of the Interamerican Development Bank (IDB) and Davivienda, a private commercial bank. The proof of concept will use the Lacchain blockchain platform developed by the IDB, which will handle the operative part of the issuance. Central Bank of Colombia Joins Blockchain Bond Pilot Program The Central Bank of Colombia has announced its participation in the first blockchain bond program in the country. Issued by Davivienda, one of the most important....