The presentation of cryptocurrency ATMs into Colombia is critical for crypto entrance in an area where money is above all else. Cryptocurrency take-up in the Latin American locale was optimized when El Salvador as of late took on bitcoin as legitimate delicate. Colombia stood out for the number of ATMs in Latin America before El Salvador, and as indicated by Chainalysis’ 2020 worldwide crypto reception record, was second just to Venezuela.
The public authority acknowledged in April 2021 that the development of cryptocurrency couldn’t go unrecognized as tricks multiplied and that they should have been cautious. The issue at hand was obvious to everyone beginning around 2020; Chilean trade Buda.com recorded $31.1M in exchanged volume Colombia. From Jan to March 2021, the trading volume approached $40B.
The public authority’s experimentation with cryptocurrency went similarly to running administrative sandboxes among banks and nine crypto trades, like Pakistan, with the controller giving crypto charge rules and hostile to illegal tax avoidance rules. Jehudi Castro, digital change counsel to the Presidency, and an individual from the sandbox assessment board of trustees said that forbidding crypto would be trivial. He said it is better that they assemble information first, and carry out guidelines gradually.