Bahamas vs Colombia
Crypto regulation comparison
Bahamas
Colombia
Legal
Legal
The Bahamas enacted the Digital Assets and Registered Exchanges (DARE) Act in 2020, creating a comprehensive regulatory framework. The SCB oversees digital asset businesses. The Bahamas also launched the Sand Dollar CBDC.
Cryptocurrency is legal in Colombia but not recognized as legal tender or currency. The SFC has run regulatory sandbox programs for crypto-financial services, and exchanges operate under general business registration. Colombia has high crypto adoption, particularly for remittances and as an inflation hedge.
Tax Type
No tax
Tax Type
Capital gains
Tax Rate
0%
Tax Rate
0-39%
Exchanges
Yes
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Securities Commission of the Bahamas (SCB)
Regulator
SFC (Superintendencia Financiera de Colombia), DIAN
Stablecoin Rules
Regulated under DARE Act 2024; algorithmic stablecoins banned
Stablecoin Rules
No specific stablecoin regulations yet
Key Points
- DARE Act (2020) provides comprehensive regulation for digital assets and exchanges
- Securities Commission of the Bahamas licenses and supervises digital asset businesses
- No income tax, capital gains tax, or crypto-specific taxes
- Sand Dollar CBDC launched in 2020 as one of the world's first
- FTX collapse in 2022 led to enhanced scrutiny and regulatory updates
Key Points
- Crypto is legal but not recognized as currency or legal tender
- SFC operates regulatory sandboxes allowing banks to partner with crypto exchanges
- DIAN (tax authority) requires reporting and taxation of crypto gains as part of general income
- Colombia ranks among the top 20 countries globally in crypto adoption
- No comprehensive crypto-specific legislation yet; regulation evolving