Category: Colombia

In 2024, Colombia’s approach to cryptocurrency regulation represents a fascinating blend of cautious progression and strategic innovation, mirroring the global shift towards digital currencies. This South American country’s evolving legislative framework for cryptocurrencies displays a commitment to embracing new financial technologies while ensuring robust regulatory oversight for the protection...

Initial Regulatory Stance As of the period leading up to 2023, Colombia had not implemented specific regulations for cryptoassets. The Central Bank of Colombia and the Financial Superintendency (SFC) did not consider cryptoassets as financial instruments, legal tender, or foreign currency. Therefore, transactions with cryptoassets were not subject to...