Colombia vs Kyrgyzstan
Crypto regulation comparison
Colombia
Kyrgyzstan
Legal
Legal
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.
Kyrgyzstan adopted the Law on Virtual Assets in 2022 requiring licensing for exchanges, mining, and VASPs. Over 120 licensed VASPs operate. Crypto turnover exceeded traditional securities market in 2024.
Tax Type
Capital gains
Tax Type
Income
Tax Rate
0-39%
Tax Rate
10%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
SFC (Superintendencia Financiera de Colombia), DIAN
Regulator
State Financial Supervision Authority
Stablecoin Rules
No specific stablecoin regulations yet
Stablecoin Rules
Regulated under Virtual Assets Law
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
Key Points
- Law on Virtual Assets adopted in 2022 with licensing framework
- Over 120 licensed VASPs active by late 2024
- Three license types: trading operator, currency exchanger, mining operator
- Crypto sector contributed 800M KGS in taxes in 2024
- Virtual assets not recognized as legal tender but circulate under special regime