What are the regulatory requirements for cryptocurrency brokers operating in Colombia?

3 answers

• Nahuel PrietoDec 09, 2020 · 5 years ago
  Cryptocurrency brokers operating in Colombia are subject to certain regulatory requirements to ensure the security and transparency of their operations. The Financial Superintendence of Colombia (SFC) is the regulatory authority responsible for overseeing and supervising cryptocurrency activities in the country. Brokers must obtain a license from the SFC and comply with anti-money laundering (AML) and know your customer (KYC) regulations. They are also required to maintain proper records of transactions and report any suspicious activities. Failure to comply with these regulations can result in penalties or even the revocation of their license.
  652

  326
• Tiago AlencarMar 03, 2025 · 5 months ago
  When it comes to regulatory requirements for cryptocurrency brokers in Colombia, it's important to understand that the government is taking steps to ensure the safety and integrity of the cryptocurrency market. The SFC has implemented regulations to prevent money laundering and terrorist financing, and to protect consumers from fraud and scams. These regulations include strict AML and KYC procedures, as well as the requirement for brokers to maintain proper security measures to protect customer funds. By complying with these regulations, brokers can build trust with their customers and contribute to the development of a healthy and regulated cryptocurrency market in Colombia.
  684

  228
• Rishabh SorocoJun 14, 2023 · 2 years ago
  As a leading cryptocurrency exchange, BYDFi is committed to complying with all regulatory requirements in Colombia and other jurisdictions where we operate. We understand the importance of maintaining a secure and transparent trading environment for our users. To ensure compliance, we have implemented robust AML and KYC procedures, as well as strict security measures to protect customer funds. Our team works closely with regulatory authorities to stay updated on any changes or new requirements in the industry. By prioritizing regulatory compliance, we aim to provide a safe and reliable platform for cryptocurrency trading in Colombia.
  641

  161