By CCN Markets: Self-proclaimed bitcoin inventor Craig Wright had his fondest wish come true when the capital city of Colombia formally recognized him as Satoshi Nakamoto. Bogota Grants Craig Wright’s ‘Satoshi’ Wish Officials in Bogota presented Wright with a fancy certificate affirming him as the creator of bitcoin. The events unfolded at the 2019 Expo-Bitcoin International in...
Colombian banks have closed Buda.com’s accounts, Alejandro Beltran, CEO of the cryptocurrency exchange, announced. Banks Bancolombia, BBVA and Davivenda have all closed Buda.com’s accounts, according to infobae.com. The country’s Financial Supervisor previously sent a notice warning financial institutions about using their platforms to support cryptocurrencies. The letter from Jorge Castano...
Make sure you check out last weeks post here, now let’s go over what happened in crypto this week. Price Watch: Bitcoin is up 15% this week after a slight gain last week and a nearly 20% drop the week before. After stabilizing at $7,100 earlier this week, the price rocketed above $8,000 in a dramatic green candle. The price has hit a sell wall over the $8,00 mark, but analysts are optimistic...
Bitfinex, one of the world’s largest cryptocurrency exchanges, has been implicated in a Polish investigation into the Columbian drug cartel’s money laundering operation, local media outlets report. Last week, authorities in Poland seized 1.27 billion Polish zlotys (~$371 million) from bank accounts belonging to two companies suspected of laundering money for drug cartels in Columbia. The news was...
No Regulations, No Problem. Colombia Looking to Tax Bitcoin Users As previously reported by CCN, the Superintendencia de Sociedades, an organization associated with the Colombian Ministry of Commerce, has in the past announced that digital currencies aren’t allowed in Colombia, including bitcoin. The only valid currency in the country is the peso. The announcement was made by Francisco Reyes...
An article published by Colombian publication PanAm Post suggests bitcoin, and digital currencies in general, are now illegal in Colombia, claiming the administrator of regulatory body announced the news recently. The news comes after the Superintendencia de Sociedades, an organization associated with the Colombian Ministry of Commerce, Industry and Tourism, announced digital currencies...
The first bitcoin exchange in Colombia has been forced to close after receiving complaints from the Colombian authorities. After only eight days of operating, Colbitex announced on social media that it has stopped trading while the authorities review the relevant legalities. In the post the company said: Dear users, we are going through some processes and themes of normativity in order to be able...
Until now, Colombians have had to rely on foreign services and exchanges in order to buy and sell Bitcoins. The problematic nature of this was illustrated best by the failure of Tokyo-based exchange Mt. Gox many moons ago. Regardless of whether you trust a foreign exchange are not, in the event that you lose your money, your options for recuperation are limited. Enter CriptoBanco, a trading...
El Tiempo is reporting that Colombia is planning to ban all Bitcoin-related transactions next week. This news comes as quite a shock because the fact of the matter is Colombia is not exactly the first country that people think about when it comes to hotspots of cryptocurrency. The Finance Superintendent of Colombia has claimed that virtual currencies are not safe because they have no backing from...