By : Franyi Sarmiento, Ph.D., Inspenet, August 24, 2022
Luis Carlos Reyes, director of the Colombian Tax and Customs Directorate (DIAN), said that his country could introduce a Central Bank Digital Currency or CBDC (Central Bank Digital Currency).
Reyes indicated that this currency will allow citizens to carry out transactions more easily and with it the government will reinforce the measures established to stop tax evasion.
This is the first time that the Colombian government has talked about introducing a Central Bank digital currency, after Colombia’s new president, Gustavo Petro, took office on August 7.
The Latin American country is designing a new monetary policy, Reyes explained in an interview with the newspaper Semana. In this, he also pointed out that the creation of a CBDC for the Colombian peso fits with his plan to avoid movements of money “under the table”; an expression used to refer to when something is done illegally or hidden.
Furthermore, its major banks have already partnered with different exchanges – including Binance – in an experimental project that allows customers to buy small amounts of digital assets such as Bitcoin and Ethereum through their mostly traditional channels.
In addition to facilitating transactions for citizens, Reyes also pointed out that the issuance of a CBDC digital currency will improve the traceability of payments made within the Colombian economy. It will also help the country reduce emissions and limit the use of cash.
This material from the tynmagazine.com portal has been edited for clarity, style, and length.
Source : https://tynmagazine.com/colombia-creara-una-moneda-digital-del-banco-central/
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