Colombia advances regulatory framework for local crypto industry
Colombia’s government has released draft rules for crypto companies that want to operate in the country, several months after the launch of the South American nation’s regulatory “Sandbox” project. The rules propose a risk management system for money laundering and terrorism financing, as well as cybersecurity guidelines and ways to trace crypto transactions.
The approach affirms that Colombia is working toward a future where citizens will be able to buy crypto via their traditional banking accounts.