Colombian lawmakers introduced a bill to regulate the country’s crypto sector, aiming to create clear rules for investment and growth. The proposed legislation includes measures to prevent money laundering and terrorist financing, enhance investor protection, and introduce a licensing system for Virtual Asset Service Providers. Colombia ranks among the top five in Latin America for crypto transactions, with concerns over fraudulent schemes and illicit financial activities. The country has also explored the potential of a central bank digital currency in partnership with Ripple, but its status remains uncertain.
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