Colombia prepares to regulate cryptocurrencies
This initiative plans to have the participation of the Colombian government and the Bank of the Republic
Colombia is getting ready to present again, on July 20, a bill with the purpose of establishing a regulatory framework for cryptocurrencies in the country.
Despite the fact that the project did not achieve approval in Congress after three previous debates, it is expected that this new initiative will have the active participation of the Government and the Bank of the Republic.
The Minister of Finance, Ricardo Bonilla, acknowledged during the recent Banking Convention that cryptocurrencies are a reality and there is an interest in regulating crypto assets. However, he stressed that any regulation must respect the autonomy and independence of the Banco de la República, emphasizing that the latter must be the only entity in charge of primarily issuing the currency.
This proposal arises in the midst of the demands of some cryptocurrency exchange platforms that operate in the country, which request a regulation that provides guarantees, confidence and security to users interested in investing in cryptocurrencies.
These platforms emphasize the importance of establishing an official list of reputable platforms, with proven experience and technical resources.
On the other hand, Minister Bonilla indicated that operations with cryptocurrencies should be considered as “financial operations” and be subject to review and regulation by the Financial Superintendence.
Meanwhile, the financial superintendent, César Ferrari, took a more cautious stance, calling the world of crypto assets “extremely dark” due to the difficulty in tracing their origin and demand.
Politicians such as Senator Gustavo Moreno, from the Alianza Verde-Centro Esperanza and member of the Seventh Commission, highlighted the need to have a legal framework that prevents money laundering and scams related to cryptocurrencies.
K. Tovar
Source: Cointelegraph
(Reference image source: Traxer, Unsplash)
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