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Cryptocurrencies would be regulated in COLOMBIA AND TAXED AT 5 %

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Cryptocurrencies would be regulated in COLOMBIA AND TAXED AT 5 %
On 25 July 2018, draft law 028 of 2.018 was established before the Congress of the Republic, which is expected to regulate civil and commercial transactions and operations between people with virtual currencies . According to the bill, cryptocurrencies are defined as “Virtual assets”, which present a value that is recorded electronically and can be used as a form of payment through electronic means (it is expected that Values Corresponding to these are certified by the bank of the Republic).

* entities operating with virtual coins *

In accordance with article 4 of that draft standard, it may be “operating entities with virtual currencies” Legal persons for profit and / or natural persons operating as traders, have trade establishment and are registered in the chamber of commerce . Its social object must be the marketing or administration of cryptocurrencies.

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