Colombian lawmakers have introduced a new bill to regulate the country’s growing cryptocurrency industry, aiming to provide legal clarity and consumer protection. The proposed bill seeks to create rules that safeguard users while encouraging investment, addressing concerns over scams and illicit activities. With over five million Colombians using crypto, lawmakers warn that the current lack of regulation leaves the sector vulnerable to fraud and financial crime.
The licensing system would ensure compliance with anti-money laundering and counter-terrorist financing laws, and supporters argue that clear regulations will boost investment and integrate crypto into the national financial system. Some investors stress the importance of fair taxation, warning that heavy tax burdens could discourage crypto adoption. The bill aims to create a balanced approach, covering areas such as consumer protection, marketing rules, education, and taxation.
