$ 1,146.79 4.81%
$ 35.45 8.72%
$ 0.066096 9.61%
$ 5.03 2.23%
$ 20,325.00 2.51%
$ 227.94 2.97%

Columbian tax authority enacts measures to combat crypto tax evaders

savings g e dd

TL;DR Breakdown

  • Columbian tax authority, the DIAN, has introduced new measures to control the use of cryptocurrencies in the country.
  • The agency is yet to track down the movement of all the digital assets to enable proper regulation.

Columbian tax authority, named the DIAN, has recently announced that it has launched measures to monitor cryptocurrency movement across Columbia. In the report, the Columbia tax authority said it aims to track down any taxpayer who has used or traded digital currencies but failed to report their activities or filed an inaccurate report. Columbia tax authority’s move is set to counter cryptocurrency-related tax evasion.

Columbian tax authority combats crypto tax evasion

Per the statement, the tax agency stated that it was interested in making sure that cryptocurrency transactions were taxed, and it has already deployed measures toward achieving this. The DIAN had earlier stated that it was not precise on the movements of cryptocurrencies. However, the new measures replayed by the tax authority will enable them to target and disclose the actions and movement of the digital currencies in Columbia to ease taxation.

Cryptocurrency trading interests have grown immensely in Columbia alongside El Salvador. The adoption of digital assets across Columbia is growing steadily, recalling the president’s advisor openly had support on Bitcoin. Jehudi Castro Sierra, the president’s advisor, referred to cryptocurrencies as a brilliant technology. There have been recent trials to incorporate digital assets into the ecosystem.

The crypto sandbox project allows Columbians to buy and sell digital assets from exchanges through the local financial banking institutions and seek direct support. Columbia is a haven of cryptocurrency ATMs in the Latin region, ranking in second place behind El Salvador, which has recently launched the Chivo wallets ATMs.

Mary Brenda

Mary Brenda

I'm a content marketer with interests in emerging niche including Blockchain, Cryptocurrency, Esports, Video games and other tech. I've previous worked with a variety of clients, such as ASUS ROG, BitcoinBink, ESL India, OMEN by HP, Red Bull and more.

Related News

Hot Stories

Polkadot price analysis: DOT may decline to $6 in current extended downtrend
StormX Price Prediction 2022-2030: Is STMX a Good Investment?
Holograph Integrates LayerZero To Facilitate Holographic Omnichain NFTs That Beam Across Blockchains
Dogecoin price analysis: DOGE swiftly retests $0.07 as support, ready to push higher?
Bitcoin, Binance Coin, XRP, and Solana Daily Price Analyses – 28 June Morning Price Prediction

Follow Us

Industry News

Compass Mining loses Bitcoin mining facility for neglecting energy bill
Robinhood shares spike 14% on FTX rumored purchase report
US adults turn strong hands, predict Bitcoin at $38,000 on average in 6 months
Nexo reacts to new Emblezzlement allegations and threatens legal action
Bear market 2022 hits crypto to its worst in historic records