Colombian government will allow cryptocurrency stock exchanges Buda
The cryptocurrency exchange house Buda will resume operations with Colombian pesos in the coming weeks. The platform will have the appropriate permits from the government of the South American country, according to a company official. The latter has not been confirmed by representatives of the Colombian government.
CriptoNoticias spoke with the regional manager of the operator in Colombia, Alejandro Beltran, who explained that Colombians will again have Buda as an option to exchange cryptocurrencies for the currency of legal tender in Colombia: “we continue working and we are still here,” he said.
According to the executive, the conversations with the government have been extended for several months, completing a process of “sensitization” with both private companies and the public sector. “We were more than 8 months socializing and raising awareness. Relating with public and private entities, “said Beltrán.
But, why Colombia? For Beltrán, it is a “very important” country in the region, with a high demand for cryptocurrencies.
“We launch again because Colombia is a very important place in the Latin American ecosystem. The volume of operations is Colombia and the high demand place Colombia as the most interesting place in our region.” clarified Alejandro Beltrán, Country Manager of Buda.
In addition, the user community has also been involved. According to Beltrán, they have received a great response from people, as well as samples of support “that made us think it worthwhile to reopen operations”, he emphasized.
Beltrán did not offer more information on the commissions and limits of the operations that may be carried out with pesos in the platform. “We will be providing details on the forms of negotiation and transactional integrations next week,” said Beltrán.
So far, the government headed by Iván Duque has not offered an official version of the negotiations, nor of the conditions of the meetings held with Buda or another house of change in the country.
Recently Congress rejected a bill to regulate cryptocurrencies, so it is not clear what legal framework Buddha will have to comply with, nor whether his agreement with the government includes flexibility clauses on the possible advent of new regulations.
It should be remembered that Buddha has gone through a series of difficulties in Colombia, especially associated with banking services. In June 2017, the bank Davivienda closed its bank account without prior notice and from then on a conflict began to worsen, leading them to close operations in Colombia in August 2018.
Buddha concentrated the largest volume of exchange in the country before closing. Its reincorporation to the market can have a positive influence on the Colombian ecosystem, especially because Colombia is one of the countries with the greatest interest in the region’s crypto-active.
The South American country has significant bitcoin exchange rates through localbitcoin.com, as well as a very active community of entrepreneurs and technology enthusiasts, and has already hosted several important events.
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