Colombia | Crypto

New rules from Colombia’s tax authority require crypto service providers to collect and share user and transaction data. Colombia’s tax authority, DIAN, has introduced a mandatory reporting regime for crypto service providers, requiring exchanges and intermediaries to collect and submit user and transaction data as part of its oversight of the digital asset sector. The rules were set out in Resolution 000240, issued on Dec. 24, which adds a crypto reporting regime aligned with OECD-developed international standards, including the Crypto-Asset Reporting Framework (CARF). According to the new rules, crypto exchanges, custodians and other service providers must report identifying information and transaction data for “reportable” users, enabling the automatic exchange of that information with foreign tax authorities. Read more

Bitcoin rose toward $93,000 as Donald Trump made remarks suggesting tougher action on Colombia and Mexico following the US operation in Venezuela. Bitcoin climbed toward $93,000 on Monday as US President Donald Trump made comments suggesting the United States could pursue tougher action against Colombia and Mexico, extending geopolitical uncertainty in the region following the weekend operation in Venezuela. Speaking on Sunday, Trump criticized Colombia over cocaine trafficking and said a new US military operation focused on the country “sounds good to me,” according to Reuters, while also warning that “something is going to have to be done” in Mexico. “Colombia is very sick, too, run by a sick man, who likes making cocaine and selling it to the United States, and he’s not going to be doing it very long," Trump warned. Read more