Colombia vs San Marino
Crypto regulation comparison
Colombia
San Marino
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.
San Marino has developed a regulatory framework for blockchain entities. The country has issued licenses for blockchain-based businesses.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
0-39%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
SFC (Superintendencia Financiera de Colombia), DIAN
Regulator
Central Bank of San Marino, AIF (Financial Information Agency)
Stablecoin Rules
No specific stablecoin regulations yet
Stablecoin Rules
No specific stablecoin regulation
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
- Delegated Decree on blockchain technology entities issued
- Licenses issued for blockchain-based businesses
- AIF provides regulatory oversight
- Small jurisdiction working to attract blockchain companies
- Developing comprehensive digital asset regulation