Colombian House of Representatives outlines potential implications of cryptocurrency regulations

According to the Cointelegraph, on October 3, Colombian Congressman Mauricio Toro created a bill to regulate the national crypto industry. In the interview, Toro described some of the issues his client may be facing. He believes Colombia lags behind other countries in terms of cryptocurrency regulation. One of the key issues is to ensure that the cryptocurrency market adheres to financial protection procedures. He hopes to overcome the negative perception of the technology and make it clear that it can be used for laundry in any circumstance in Colombia, and not just for cryptocurrencies. However, discussions on approving the law have been delayed due to bureaucratic issues and are now awaiting clarification on the cryptocurrency from the Colombian Financial Supervisory Authority. It has been reported that the Colombian House of Representatives is in the process of submitting a cryptocurrency exchange bill to Congress.