Does your country allow or prohibit ICOs and Token Sales

• Colombian regulation does not prohibit cryptocurrencies and/or ICOs
• However a series of concepts and statements from the Colombian Central Bank and the Financial Superintendence have been issued to the public warning of the risks associated with cryptocurrencies

Are ICOs and Token Sales Regulated in your country

• ICOs and token sales are not yet regulated in Colombia
• Although ICOs and token sales are not yet regulated in Colombia, the Financial Superintendence is the Colombian agency reviewing the evolution of and discussing regulatory issues on cryptocurrencies, ICOs and Token Sales
• The Colombian Central Bank has formed a task force with other entities (as the Financial Superintendence) to study cryptocurrency markets and evaluate the convenience of regulating certain aspects related to them
• The Colombian Financial Superintendence has informed all financial entities under its supervision that they cannot, hold, invest, act as intermediaries or allow the use of platforms that operate with cryptocurrencies - therefore cryptocurrencies are not a valid investment for supervised entities
• Thus as cryptocurrencies are defined as non-financial assets, individuals are responsible to assess the risk derived from any operation carried out with cryptocurrencies

Digital Proof

• Information on digital proof was not available

Sources

• Legal Link