Colombian deputy presents bill to regulate Cryptostock
Colombia has taken a step to become a cryptonation. The Congress of the Republic announced, this Wednesday, a Bill that aims to govern the operation of cryptostock in Colombian territory.
Its objective is to regulate the cryptoactive exchange services offered through exchange houses and other similar platforms. The project was spread through Twitter by Mauricio Toro, a Colombian congressman interested in cryptocurrencies and technological development.
Interested specialists, as well as the community in general, can send their comments on the document until next April 8.
The proposal includes the creation of a Unique Registry of Cryptoactive Exchange Platforms (RUPIC), an electronic registry administered by the country’s chambers of commerce. It was designed so that users and authorities can verify that the providers of exchange services comply with the relevant permits before the Colombian government, as well as any other information of interest on the constitution of the companies.
These operators must be registered in Colombian territory or operate as branches of foreign companies and must have an efficient security system, approved by the Ministry of Information Technologies and Communications (MinTIC). In addition, they must comply with procedures “know your client” (KYC) and against money laundering (AML).
According to the document, exchange houses would be prohibited from granting interest or any other type of return to users who keep their funds on their platform. Similarly, they could not mobilize funds without express authorization from clients.
Although this is an important step in the evolution of the Colombian ecosystem, the level of centralization that the law intends to impose, draws attention to the fact that the Ministry of Information Technology is the main responsible for the development of a technology designed to decentralize.
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