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Author Topic: Colombia just outlawed Bitcoin. Here's how to fight back.  (Read 1937 times)
richardsNY
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January 24, 2017, 09:27:32 PM
 #21

Have you read my post? Bitcoin is not banned in Colombia! At least not for end users.

Villamizar said that BTC is "not the legal tender". That's not the same than "illegal". Bitcoin isn't the legal tender in a single country in the world.

The official letter from the "Superintendencia" only states that financial entities cannot trade with cryptocurrencies, because the National Bank of Colombia and the Superintendencia think it's too risky. And in December Villamizar issued a warning to the general population that inverting in Bitcoin is risky because it's not the legal tender. That's all.

People just read the title where they get the impression that Bitcoin is banned, and then directly post a comment. Beside the obvious financial entities as banks and insurers, can a service such as Coinbase, BitPay and CoinsBank also fall under these same regulations? If you purely look at their operations, then they basically are somewhat of a financial entity. If so, then it's quite a sad thing for merchants accepting Bitcoin through BitPay for example.
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