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Monday, April 15, 2024
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HomeRegulationsAuthorities of Colombia reiterates its intention to control bitcoin

Authorities of Colombia reiterates its intention to control bitcoin

Key information:
  • Central banks see cash disappearing and should be changed with one thing digital, Ricar stated

  • “There’s a lot to speak about and loads to control about cryptoassets,” he commented.

The progress of the Colombian authorities within the regulation of bitcoin (BTC) was highlighted by the Minister of Finance, Ricardo Bonilla, throughout his participation within the 2024 annual assembly of the World Financial Discussion board going down in Davos, Switzerland.

About Bonilla stood out the curiosity in cryptocurrencies like bitcoin, commenting on how central banks now see money disappearing. He additionally thinks that “there’s a lot to speak about and loads to control, in order that we don’t fall into fraud.”

He additionally believes that given this panorama of progress within the adoption of cryptocurrencies, it’s crucial to guage different choices, together with the creation of a digital foreign money. This refers back to the different that many governments select to launch central financial institution digital currencies or CBDC. A posibility that consider greater than 100 central banks all over the world and that It’s also contemplated in Colombia.

Bonilla observes that though there’s a variety of speak on the planet about digital currencies, in his opinion they aren’t essentially messages about “clear and clear transactions.” A place that he has held in earlier statements and that denotes a biased opinion in regards to the ecosystem.

Nevertheless, the minister acknowledges that cryptoassets “are a actuality”, and that’s the reason he affirms that what regulators are on the lookout for is to have safety within the face of the disruptive advance of those new applied sciences. “We have now to begin constructing on cryptocurrencies and the potential of a digital foreign money,” he commented.

In that sense, Bonilla spoke in regards to the progress that has been made within the South American nation within the dialogue of cryptocurrency regulationthe place final yr he settled a piece crew. He himself is made up of union teams of the ecosystem and authorities officers, together with the Central Financial institution of the Republic, the Ministry of Finance and the Monetary Superintendency.

“Development has already begun in Colombia and, primarily based on a piece desk, a invoice is being constructed to control cryptocurrencies,” stated the minister in Davos.

As reported by CriptoNoticias, the working group on the invoice It started its debates in mid-2023. This, after a beforehand introduced mission was archived in Congress after passing a section of debates.

After the rapprochement between members of the ecosystem and State establishments, A sequence of tips had been developed for regulation which had been introduced in September by the monetary superintendent, César Ferrari.

An upcoming presentation of the proposal was introduced three months in the past, so the Colombian group is ready that the mission is delivered to the Government after which launched to Congress for approval.

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