Colombian financial director has just released a draft rule for the crypto industry. The rules focus on a variety of topics and are similar to those proposed by other countries.
Colombia has become the next country to announce draft rules for the crypto industry. Colombia’s financial supervisor, the national financial regulator, presented the proposed regulations and asked for public comments.
Draft proposals include risk management systems for money laundering and terrorist financing, transaction tracking, and general cybersecurity guidelines.The Proposed proposal It is essentially similar to what other countries have proposed.
Not surprisingly, the Colombian government is trying to regulate the crypto industry. There is a great deal of interest in asset classes in this country. Authorities need to protect investors and prevent the use of cryptography to promote illegal activity.
Cryptocurrency is Increasingly popular In Colombia, it’s still in the very early stages.About 6.1% of Colombians own cryptocurrencies and are ranked fourth in the world on peer-to-peer Bitcoin Transaction volume. Eighty percent of Colombians reportedly are willing to invest in cryptocurrencies.
The country has also launched a regulatory sandbox to assist in the implementation of regulatory processes and technologies. 1 Food delivery app We also accept payments in cryptocurrencies. This is a popular sign enough for businesses to consider this.Part of the increase in crypto adoption may be related to the fact that Bitso has Release That app in the country.
The crypto market is set up to face a huge amount of regulation from countries around the world. The asset class is well established and the government believes that regulations need to be imposed early rather than later. After many years of turmoil, these authorities are now rapidly ratifying market-related laws.
The G20 countries Recently confirmed the need for cross-border coordination, Stablecoin Regulation. Stablecoin in particular has become a concern for the government, and the recent UST crash has re-emphasized the need for control.
Both the US and the EU have taken action due to cryptographic regulations.The U.S. Treasury has announced a framework for international cooperation on cryptographic regulation, but the EU Sweep set Of regulation.
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