• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

The Central Bank of Colombia Is Studying the Creation of a D…

in Crypto Updates
Reading Time: 3 mins read
The Central Bank of Colombia Is Studying the Creation of a D…
31
VIEWS
Share on Facebook

The Central Bank of Colombia is studying the launch of a digital currency, according to statements made by its manager, Leonardo Villar. The organization is evaluating the launch of this instrument as a means of unifying the different digital wallets in the country, making them interoperable and easier to use for customers.

 

Central Bank of Colombia Studies Digital Currency Issuance

 

Many governments in the world are preparing to launch digital currencies in order to compete with cryptocurrencies and other assets. Leonardo Villar, manager of the Central Bank of Colombia, recently announced that the organization was studying the issuance of a digital currency. During a banking convention at Cartagena, Villar explained that the functions and the convenience of such currency were being reviewed by the bank.

 

While the officer did not offer more details about the structure or nature of the announced currency, he did reveal that one of the experiences the bank is looking closely at, is one that Brazil has endeavored with the pilot and work made towards development of the digital real, the proposed central bank digital currency (CBDC) of the neighboring country.

 

Brazil’s digital currency will be able to be used as collateral by financial institutions in the country to issue their own stablecoins, maintaining private banks as part of the financial system.

 

Objectives of a Hypothetical Digital Peso

 

According to Villar, one of the biggest objectives of the currency would be to make the different digital wallets that are available in the nation interoperable. This current design is said to be very inefficient, and does not allow for users of these wallets to pay for state-related expenses like taxes.

 

Earlier this week, Luis Carlos Reyes, head of the DIAN, the Colombian tax authority, also talked about the motivations that the issuance of a national digital currency would follow. Reyes explained that the currency would help the country to have more control over transactions and payments. This would ostensibly allow the country to curb tax evasion, which is estimated to represent up to 8% of the GDP of the country.

 

In the same way, the regulators will be studying to establish limits on the amount of money that can be paid using cash to incentivize the use of digital, trackable alternatives.

 

What do you think about the studies that the Central Bank of Colombia is executing to launch a digital currency? Tell us in the comments section below.

 

img 20220427 085821 931
Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Source link

The Best Web 3.0 Cryptos to buy for the future in 2022

 

Top 10 Metaverse Coins to Watch in 2022


  • Trending
  • Comments
  • Latest
Expert Bitcoin Price Predictions: From K to K in 2023, and Beyond

Expert Bitcoin Price Predictions: From $20K to $38K in 2023

1 February 2023
How Investigators Trace Crypto Criminals?

How Investigators Trace Crypto Criminals?

30 January 2023
How to trade cryptocurrency on Coinbase

How to trade cryptocurrency on Coinbase

31 January 2023
MoneyGram Partners With Circle To Enable USDC Cross-Border Stablecoin Transactions on Stellar (XLM) Blockchain

MoneyGram Partners With Circle To Enable USDC Cross-Border Stablecoin Transactions on Stellar (XLM) Blockchain

2 February 2023
How to trade cryptocurrency on Binance

How to trade cryptocurrency on Binance

27 January 2023
Sberbank Cover 1024x538 1

Russia’s Largest Bank to Launch Ethereum-Compatible DeFi Platform

5 February 2023
upload 7d22bc5d7be9c0d5d8f50161734559ae

KZG Ceremony Grant Round | Ethereum Foundation Blog

5 February 2023
Article Post Images 23

Bitcoin (BTC) Price to Surge 8x If This Scenario Plays Out – Here’s How and When

5 February 2023
crypto hacking

Hackers Stole $3.8 Billion From Crypto Firms in 2022, Says Chainalysis – Featured Bitcoin News

4 February 2023
ripple sec lawsuit

Ripple Vs SEC Update: Latest Hearing Offers Hope, XRP Gains Upper Hand

3 February 2023

  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)€21,103.03-2.64%
    BITCOIN
    24H : -2.64%
    Volume : €25,908,392,346.83
    Marketcap : €408,620,742,766.12
  • ethereumEthereum(ETH)€1,500.47-2.86%
    ETHEREUM
    24H : -2.86%
    Volume : €7,605,361,304.45
    Marketcap : €181,651,619,977.03
  • usdex-stablecoinUSDEX(USDEX)€0.995-0.96%
    USDEX
    24H : -0.96%
    Volume : €118,440.27
    Marketcap : €102,881,883,688.82
  • tetherTether(USDT)€0.9280.110%
    TETHER
    24H : 0.110%
    Volume : €34,810,075,032.19
    Marketcap : €63,400,767,172.20
  • binancecoinBNB(BNB)€298.69-2.78%
    BNB
    24H : -2.78%
    Volume : €947,473,612.60
    Marketcap : €40,529,356,146.05
  • usd-coinUSD Coin(USDC)€0.9270.040%
    USD COIN
    24H : 0.040%
    Volume : €2,507,087,378.11
    Marketcap : €39,101,320,701.95
  • rippleXRP(XRP)€0.368-3.32%
    XRP
    24H : -3.32%
    Volume : €911,073,998.04
    Marketcap : €18,774,705,962.93
  • binance-usdBinance USD(BUSD)€0.9270.00%
    BINANCE USD
    24H : 0.00%
    Volume : €8,571,745,097.08
    Marketcap : €15,132,222,740.23
  • cardanoCardano(ADA)€0.361-2.29%
    CARDANO
    24H : -2.29%
    Volume : €347,914,130.92
    Marketcap : €12,705,359,796.81
  • dogecoinDogecoin(DOGE)€0.085-4.13%
    DOGECOIN
    24H : -4.13%
    Volume : €863,696,916.40
    Marketcap : €11,738,996,132.72
  • okbOKB(OKB)€41.070.540%
    OKB
    24H : 0.540%
    Volume : €25,563,805.73
    Marketcap : €10,200,524,444.48
  • matic-networkPolygon(MATIC)€1.09-5.25%
    POLYGON
    24H : -5.25%
    Volume : €572,535,346.52
    Marketcap : €9,921,136,740.79
  • solanaSolana(SOL)€21.39-5.35%
    SOLANA
    24H : -5.35%
    Volume : €626,187,809.93
    Marketcap : €8,011,519,545.52
  • shiba-inuShiba Inu(SHIB)€0.000013-4.27%
    SHIBA INU
    24H : -4.27%
    Volume : €956,101,454.24
    Marketcap : €7,904,054,627.92
  • staked-etherLido Staked Ether(STETH)€1,495.17-2.91%
    LIDO STAKED ETHER
    24H : -2.91%
    Volume : €15,353,031.26
    Marketcap : €7,601,599,477.65
  • polkadotPolkadot(DOT)€6.12-3.69%
    POLKADOT
    24H : -3.69%
    Volume : €246,476,869.10
    Marketcap : €7,383,781,185.17
  • litecoinLitecoin(LTC)€88.50-2.98%
    LITECOIN
    24H : -2.98%
    Volume : €481,815,100.01
    Marketcap : €6,418,875,489.86
  • avalanche-2Avalanche(AVAX)€18.31-6.09%
    AVALANCHE
    24H : -6.09%
    Volume : €332,814,641.95
    Marketcap : €5,806,719,543.99
  • tronTRON(TRX)€0.058-2.30%
    TRON
    24H : -2.30%
    Volume : €470,466,380.07
    Marketcap : €5,388,698,510.10
  • uniswapUniswap(UNI)€6.27-6.74%
    UNISWAP
    24H : -6.74%
    Volume : €141,733,734.74
    Marketcap : €4,752,357,135.68
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
Preferences
{title} {title} {title}