Colombian digital currency
Crypto adoption

The government of Gustavo Petro wants to create a Colombian digital currency

Recently, Gustavo Petro’s government announced an important proposal on digital assets for Colombia; the new director of DIAN Luis Carlos Reyes expressed the need for a methodology to track transactions in tax matters in order to ensure the proper functioning of tax payments throughout the country.

To facilitate consumer transactions

Since the election of Colombia’s new president, a large number of projects related to blockchain technology, digital assets and cryptocurrency mining have been considered for implementation..

On this occasion, the government of Gustavo Petro is considering the possibility of creating a digital currency to facilitate consumer transactions and take advantage of the benefits offered by blockchain to keep a much more efficient record of tax payments.

Luis Carlos Reyes – director of DIAN explained:

Tax evasion in the country is presented as a problem to be addressed during the new term of Gustavo Petro and that, according to Luis Carlos Reyes, director of DIAN, “it is estimated that tax evasion represents between 6 and 8% of Colombia’s GDP.”

Colombia, being the third most user country of cryptos in Latin America and is listed as a leader in the development of a large number of blockchain projects. We certainly believe that it is able to adopt these technologies and methods of value transfer to achieve two very important things.

On the one hand to improve the speed of transfers when purchasing goods or services and, at the same time, to ensure a fair and efficient registration of tax collection at the national level.

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