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Colombia becomes a Blockchain-friendly country?

Colombia becomes a Blockchain-friendly country?

It seems that thanks to the President of Colombia, Ivan Duque, the nation is set to become the next Blockchain-friendly country. He has outlined how his “obsession” can turn Colombia into a new technological leader in the region.

3 September, AtoZ Markets It appears that Columbia is planning to become the next nation in the world to adopt a cryptocurrency-friendly stance and stand in line with such nations, as Malta. 

Malta as the Blockchain center of the World

Cryptocurrency and Blockchain markets are continually growing, thus pushing nations to adapt to the rapidly developing sectors. In fact, many of the modern governments have been putting increased effort into integrating this nascent technology into a number of projects under their supervision. 

Malta stands out among global nations, as it calls itself “the Blockchain island.” This country has become one of the most developed nations when it comes to cryptocurrency sector. Maltese officials have successfully welcomed a number of cryptocurrency exchanges. Parliament in Malta has approved a series of bills related to crypto that are set to make Malta the first nation to “legal certainty” for the cryptocurrency area.

Broker of the month

Maltese Member of Parliament and the parliamentary secretary responsible for the digital economy, financial services, and innovation, Silvio Schembri, has announced the news. The introduction of three bills is expected to make Malta one of the first countries in the world to pass the specific regulation in regards to Blockchain technology. 

Mr. Schembri has stated in his Tweet:

“Today Maltese Parliament unanimously approved 3 bills on DLT/blockchain, a 1st in the World. Honored to have driven these bills. Announced that Mr. Stephen McCarthy will be the CEO of the new #Malta Digital Innovation Authority. #BlockchainIsland –SS”.

There are three bills that are numbered 43, 44, and 45. They are named “The Innovative Technology Arrangements and Services Act,” “The Virtual Financial Assets Act,” and “The Malta Digital Innovation Authority Act,” respectively.

Colombia becomes a Blockchain-friendly country?

The cryptocurrency popularity has also widely spread across South America. The Venezuelan government has decided to set up its own cryptocurrency project. The country moved to introduce its own oil-backed cryptocurrency petro. 

Talking about Colombia, its freshly-appointed president Ivan Duque has expressed an interest in this rapidly growing market. It is also known that a number of other authorities in Colombia are eager to learn more and explore the Blockchain technology and its potential. 

Ivan Duque has already made a few comments regarding the crypto market during the yearly ANDICOM conference in Colombia. 

According to a number of local media outlets, Colombian president has outlined how his “obsession” can turn Colombia into a new technological leader in the region. He has also noted how the government will now have an official that has interest in the issues related to the digital society. 

He also highlighted how technologies like Blockchain could be effectively used in order to combat corruption in the country. Mr. Duque has also stated that companies in the IT technologies field could enjoy the benefits of tax exemption for the first five years in case they are able to generate a significant number of Blockchain jobs. This condition would reportedly apply to Blockchain-related companies. 

Think we missed something? Let us know in the comments section below. 

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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