Canada vs Colombia
Crypto regulation comparison
Canada
Colombia
Legal
Legal
Canada has a well-developed regulatory framework for cryptocurrency. Crypto trading platforms must register with provincial securities regulators through the CSA, and all crypto businesses must register as money services businesses (MSBs) with FINTRAC. Canada approved spot Bitcoin ETFs in 2021, ahead of most other countries.
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
Capital gains
Tax Type
Capital gains
Tax Rate
0-26.76%
Tax Rate
0-39%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CSA, FINTRAC, OSC, AMF
Regulator
SFC (Superintendencia Financiera de Colombia), DIAN
Stablecoin Rules
CSA guidance requires stablecoins to maintain adequate reserves; value-referenced crypto assets regulated
Stablecoin Rules
No specific stablecoin regulations yet
Key Points
- Crypto trading platforms must register with CSA provincial regulators
- All crypto dealers must register as MSBs with FINTRAC for AML/KYC compliance
- 50% of capital gains are taxable; business income from crypto is fully taxable
- Canada approved spot Bitcoin and Ether ETFs in 2021, the first major country to do so
- CSA issued Staff Notice 21-327 on obligations for crypto trading platforms
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