Are Colombians using crypto?

More and more Colombians are using crypto, and that has regulators stepping in with rules. According to Jehudi Castro, digital transformation adviser to the Presidency of Colombia, the government simply could not ignore the upswing in crypto use in Colombia – along with various scams.

Is Colombia the fastest growing cryptocurrency market?

According to last year’s global crypto adoption index by Chainalysis, Colombia was one of the fastest-growing cryptocurrency markets in 2020. In response to the surge in crypto adoption, the Colombian government has passed anti-money laundering (AML) rules and crypto tax guidelines.

How many cryptocurrency ATMs are there in Colombia?

Currently, there are 50 cryptocurrency ATMs in Colombia, but the reasons for this boom are still not clear to some. Colombia has not been especially known for its cryptocurrency adoption, and its involvement with cryptocurrencies at a government level was limited to a regulatory sandbox that exchanges are running with banks.

What is the crypto adoption rate in Colombia?

Colombia ranks 13th out of 26 countries for crypto adoption, according to Finder’s Crypto Adoption September 2022 report, which has so far surveyed 272,257 people in 26 selected countries (11,149 in Colombia since April 2022). The crypto ownership rate in Colombia is 15%, which is higher than the global average of 15%.