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Sept. 4, 2018
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Such a statement of support was announced by the president of Colombia, Ivan Duque, during the International Congress on Information and Communication Technologies. He urged blockchain startups to consider this Latin American country to open their offices at.

As the local edition of El Tiempo writes, the president made an appealing offer of removing taxes for five years from the crypto companies. According to Duque, blockchain startups create new jobs, as well as bring the development of technologies in the country to a new level, improving the situation in the legal and security fields, thus getting rid of corruption.

In a heated discussion on Reddit website, Colombian users reacted to the statement of their president with skepticism. They call their state corrupt, saying that Ivan Duque has not fulfilled any of his election promises. One user even expressed the opinion that “one should not trust the authorities of South American countries, as their initiatives can end when they need your money and they freeze your account.”

WHY IS IT IMPORTANT?

  • The Colombian government does not ban cryptocurrencies, but tries to regulate their turnover. In July, citizens had to declare their income from the sale of digital assets. There is no normative base for the use of cryptocurrency in the country, it is recently being developed by the association of blockchain.
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