Colombia Takes First Steps Toward Regulating Cryptocurrency Exchanges
The Congress of Colombia has approved a bill that regulates the behavior of cryptocurrency exchanges in the country in its first discussion, taking the first steps to bring clarity to this issue. One of the creators of the bill, Mauricio Toro, a representative of the Green Party, stated that this bill is needed to protect users from Ponzi schemes, giving them security in the crypto world. Colombia Gets on the Crypto Regulation Road More and more countries in Latam are realizing the growth and influence crypto and crypto-related businesses are seeing in their territories. Colombia....
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The Colombian government has issued new regulations that force exchanges and individuals to report cryptocurrency transactions to the UIAF, the anti-money laundering watchdog in Colombia. The transactions must be reported via an online reporting system, and exchanges will be required to issue periodic reports of suspicious transactions made by users. Colombia Tightens AML Controls New regulations that direct users and exchanges to report cryptocurrency transactions over a certain amount have been approved in Colombia. Resolution 314 establishes that cryptocurrency transactions over $150,....
In Colombia, the entity managed by the Ministry of Finance and Public Credit, the Financial Superintendence of Colombia (Superfinanciera) has revealed the authorization of alliances between Colombian banks and digital currency exchanges. So far, Colombia’s financial department has approved nine partnerships between exchanges and national banks in order to make cryptocurrency operations more accessible to citizens. Colombia’s Financial Superintendent Wants to Spread Crypto Accessibility The Republic of Colombia in South America has been friendly toward crypto assets like bitcoin....
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 Ministry of Information Technologies and Communications of Colombia, Mintic, has issued a guide that describes the steps to implement blockchain in projects directed at the state level. The document defines blockchain and its basic elements, and also describes the guidelines that some projects should follow, depending on the needs of each project.
Colombia Issues Guidelines for Blockchain Projects
More and more governments are including blockchain in projects that require transparency and decentralization. The Ministry of Information Technologies and Communications of....
While Colombia is not a country that has embraced cryptocurrencies compared to Venezuela or some African countries, it is the country with the second most cryptocurrency ATMs in the Latam region. The reason behind this could be that Colombia has a high percentage of cash usage. This makes cryptocurrency ATMs a very important tool for adoption in the country.
Colombia, Crypto ATM Haven
There is a cryptocurrency ATM boom going on in Colombia right now, being this is the country that hosts the second-highest number of these ATMs in the region. Columbia was in first place until not....