Colombia is making new strides in legalizing and managing the crypto market, with a bill recently submitted to establish a clear legal framework for the industry. This is not the first time the country has attempted to pass crypto legislation, but will it succeed this time?

Colombia's New Crypto Bill

According to El Colombiano, the bill proposed by Senator Gustavo Moreno and Representative Julian Lopez on March 3, 2025. Previously, Colombia had attempted to establish crypto regulations in 2024 and 2022, but both efforts failed.

This time, the main objectives of the bill are:
✅ Create a transparent and secure crypto ecosystem
✅ Attract investors and promote industry development
✅ Ensure rights for users and businesses

Key Points in the Bill

🔹 Monitor and manage the market

  • Enhance monitoring of exchanges and crypto-related services.

  • Establish a licensing system for Virtual Asset Service Providers (#VASPs ).

🔹 Regulations on promoting and educating about crypto

  • Set standards for promoting digital assets.

  • Educate users about the benefits and risks of crypto.

🔹 Anti-money laundering and financial fraud

  • Propose measures to prevent money laundering, terrorism financing, and Ponzi fraud.

🔹 Tax policies for crypto

  • Establish clear tax regulations for crypto transactions and income.

An important point is that if the bill is passed, all exchanges and crypto services in Colombia will have to register and obtain licenses. This helps minimize the risk of financial fraud and protect consumers.

Colombia - A Booming Crypto Market

#Colombia is currently one of the five countries with the largest crypto trading volume in the Latin American region, with:
📈 More than 5 million people participate in transactions
💰 Estimated total transaction value of 6.7 billion USD in 2024 (according to Chainalysis)

However, rapid development also brings many risks such as Ponzi schemes, money laundering, and the use of crypto for illegal activities.

Can Colombia Succeed?

In addition to crypto management efforts, Colombia previously experimented with Central Bank Digital Currency (CBDC) in 2023, in collaboration with Ripple. However, the future of this project is unclear due to President Donald Trump's anti-CBDC policy.

Despite the challenges, if the bill is passed, Colombia could become one of the leading countries in the region for managing crypto legally and sustainably. 🚀 #anhbacong