On the last day of Devcon VI in the Colombian capital, the director of the Colombian Customs, DIAN, gave his opinion on cryptocurrencies, their regulation and the possibility of creating a CBDC.
Luis Carlos Rey Hernández, director of the Colombian Customs (also known as DIAN), attended the closing day of Devcon VI. Reyes assured that the new government of Colombia is ready to consider the necessary proposals to regulate cryptocurrencies in the country.
“Some of you may have wondered, especially if you have just used a crypto platform, if you have to pay taxes on the profits you make on your investments. I do not know if the representatives of the exchanges in the country are here, we would like them to know exactly what rules they must follow, although cryptocurrencies are not a legal tender in Colombia, they are considered for tax purposes”
Reyes also indicated in his speech that cryptos are considered as intangible assets that basically follow the treatment that other jurisdictions give to cryptocurrencies and, in general, to digital assets.
The Colombian CBDC's question remains unavoidable as the host opens the room to answer questions from attendees. According to Reyes, a central digital currency is more convenient than cash.
“Frankly, from the point of view of the tax office, we are interested in the traceability of transactions, especially in the Colombian economy, where [Panorama] is so informal and so many people use cash, [it would be ideal] if we can provide a currency digital that is more convenient and safer for cash"
The director of the DIAN referred to cases of money theft by Colombians belonging to the submerged economy. For Reyes, CBDC would offer an opportunity to recover it because it is highly traceable.