In Colombia, the use of cryptocurrencies is not illegal, but their regulation is limited and remains a topic of debate. To understand this better, let's think of a practical example: imagine that John buys Bitcoin to save and sell when its price goes up. Although he can do this legally, if he wants to use his bank to move the money, he will face obstacles, as the Financial Superintendence has banned Colombian banks from handling transactions directly related to cryptocurrencies. This forces many to resort to using cash, which increases the risks of fraud or illicit activities.

Another case is that of companies that accept cryptocurrencies as a form of payment. According to the DIAN, any profit obtained from these transactions must be reported and taxed, as with any other income. However, the lack of a clear economic classification for cryptocurrencies creates confusion in accounting records, forcing entrepreneurs to find alternative solutions.

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