Colombian Congress considers bill to regulate crypto exchanges

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The authors of a new bill that has entered the Colombian parliament propose allowing bank clients to link their bank accounts with accounts on cryptocurrency exchanges.

The document aims to bring more clarity toregulation of the activities of cryptocurrency exchanges in the country, said one of the supporters of the bill, Green Party representative Mauricio Toro.

He says Colombia must move forwardforward in regulating the industry, since the crypto industry brings millions of dollars to the country's budget and creates new jobs. In addition, Toro says, the cryptocurrency industry creates new economic opportunities and provides Colombians with secure access to assets and protection against fraud.

According toAccording to a recent study by the Gemini crypto exchange, Latin America is the leader in the growth rate of the number of cryptocurrency owners. The number of crypto investors is growing fastest in Brazil.

The bill still has three readings to go through Colombia's Congress. In addition, he appeared in the midst of the election campaign.

If the bill is nevertheless adopted this yearform, cryptocurrency exchanges will need to register in order to continue offering their services. Platforms will be forced to disclose to clients the possible risks of trading digital currencies, and clients of Colombian banks will be allowed to link their accounts to accounts on crypto exchanges. According to the bill, this should help avoid fraudulent schemes.

Formerly an international research companyIpsos published the results of a survey according to which the majority of Latin Americans believe that metaverses and Web3 will significantly change people's lives in the next 10 years.