Following the example of Malta, Colombia warmly accepts the companies of blockchain and cryptocurrency

Following the example of Malta, Colombia warmly accepts the companies of blockchain and cryptocurrency


The wave of support cryptocurrency has swept across several countries. The most outstanding example of this kind is Malta, which attracted the attention of the largest cryptocurrency projects, thanks to which it gained the reputation of the “blockchain island”.

Recently, as AMB Crypto website writes, Colombian President Ivan Duque announced the support of cryptocurrency at the International Congress on Information and Communication Technologies. He invited all cryptocurrency companies to do business in the country. The President of Colombia also promised that within five years the cryptocurrency firms operating in Colombia will be exempt from the profit tax. Duque stated that he wants to see large companies as “serious players” in the cryptocurrency sector. He added that in exchange for tax exemptions, these firms should “create an unlimited number of jobs.”

The president believes that the blockchain  technology should help in solving the problem of corruption in the country. It could also improve areas such as law, medicine and security.

The user of the site Reddit Debl noted:

“It is very strange. I am a Colombian, and I know that the Colombian government is VERY corrupt and sold by the US. We will see how it works, and whether he will do what he says. He promised certain things before he became president, and now he acts in the opposite way (for example, he raises taxes while he promised to reduce them) ” .

Ollice420 wrote:

“… As long as they do not get angry at you, or they need your money, after which they will freeze your account and allocate funds. I do not trust Central or South American governments. ”

Recently, private and public companies in the country have jointly created a new blockchain organization, in order to support the blockchain  technology and cryptocurrencies, and to help the government develop a legislative basis for their turnover.

Even during the debates in the Senate, Senator Navarro Wolfe said that technology can change the life of Colombians by being introduced into the economy, politics and the administrative sphere.

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