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Tag: Colombia

Colombia Declares Bitcoin Illegal, Peso is the Only “Valid” Currency

Category: Bitcoin, News, Regulation

Colombia Declares Bitcoin Illegal, Peso is the Only “Valid” Currency

The Superintendecia de Sociedades, a regulatory agency of the government of Colombia, has declared digital currencies including bitcoin illegal, stating only the Colombian Peso is permitted for transactions according to Panampost and El Tiempo, two South American-focused news outlets. Francisco Reyes Villamizar, the head of the Superintendencia de Sociedades, described bitcoin as a fraudulent investment scheme, in which users convince…

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