Colombia Central Bank Finalizes Draft Digital Asset Law
Colombia’s central bank has finalized a forward‑looking draft digital asset law that treats tokens not as money but as representations of real‑world assets. Under the proposal, the central bank would regulate stablecoins while the Financial Superintendence would supervise virtual asset service providers (VASPs), creating a split oversight model designed to align monetary and prudential responsibilities with market supervision.
The draft is significant because it reduces regulatory uncertainty for issuers, crypto firms, and fintechs operating in Colombia and could attract compliant stablecoin projects and institutional participants. By assigning clear roles to the central bank and the supervisory authority, the proposal aims to balance innovation with financial stability; next steps likely include public consultation and coordination with lawmakers, with detailed technical rules and licensing requirements to follow and shape market impact.