Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13071
Markets: 101235
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
13071
Cryptocurrencies
60.25%
Bitcoin Share
crypto.news 2025-03-03 10:47:55

Colombian lawmakers reintroduces bill to regulate crypto with 16 provisions

Colombian lawmakers reintroduces bill to regulate crypto with 16 provisions

Two Colombian regulators have proposed another bill that would serve to regulate crypto. The bill consists of 16 provisions, including a VASP licensing system for crypto firms. According to local media outlet El Colombiano , the bill aims to establish a legal framework that would ensure protection for crypto users and encourage more investment in the nation’s budding crypto industry. The bill outlines a total of 16 articles that cover several crypto-related aspects including monitoring, marketing rules, education, crypto tax , as well as anti-money laundering and counter-terrorism financing measures or AML /CFT. In addition, the bill also proposes a virtual asset service providers licensing system which crypto firms who wish to operate in the region would have to apply for. Other countries like Hong Kong , Singapore , Canada , and the UAE use VASP licenses to ensure they will abide by local regulations. Senator Gustavo Moreno and House Representative Julián López proposed the bill to Congress on March 2, after having failed in their attempt last year. Moreno argued that Colombia urgently needs to establish a regulatory framework for crypto exchanges and firms due to virtual asset companies in the country are operating informally which “generates uncertainty and risks for users.” You might also like: Binance pushes for stricter security regulations following $1.4b Bybit hack The lack of regulation, Moreno added, does not provide crypto services with the proper security mechanisms to protect its users and prevent the misuse of crypto assets. “Our bill seeks to establish clear rules of the game to generate a reliable and more attractive [crypto] ecosystem for investment with guarantees for this emerging industry ,” said Rep. López. According to the report, around five million Colombian users have been trading cryptocurrency. In 2024 alone, crypto transaction value has reached $6.7 billion in the country. However, the outlet has also noted that many users have also become victims of scams and pyramid schemes, and others take advantage of the unregulated crypto ecosystem to launder money . The Colombian Financial Superintendent, Colombia’s main financial regulator, has been reportedly working on several crypto pilot projects since 2021. However, the projects have yet to produce “concrete regulatory framework.” Read more: Colombian bank Littio, OpenTrade launch USD accounts on Avalanche

Most Read News



Cryptohopper
Market Cap
24h Vol
60.25%
Bitcoin Share
607
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.