Category: South America

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...

As of 2023, Peru’s approach to cryptocurrency regulation was marked by an absence of specific legislation or rules governing the crypto-asset market. The country’s regulatory environment for cryptocurrencies and related platforms was undeveloped, with no concrete legal framework addressing this emerging sector. Lack of Specific Cryptocurrency Regulation Peru had...