From April 1, 2022, people and companies that make cryptocurrency transactionssuch as bitcoin, greater than 150 dollars or 450 dollars if they are multiple, they must report it to the Financial Information and Analysis Unit (uiaf).
That is, if the transfers are greater than 590,052 Colombian pesos or 1,770,000 if there are severalin accordance with resolution 314 of 2021.
This new regulation was born in order to prevent operations that are used for illicit purposes such as money laundering and financing of terrorism.
Those who have to report must register in the Online Reporting System (Sirel), through the Uiaf website (www.uiaf.gov.co), in which they can request a code and user.
Virtual asset companies and vendors will also need to submit Suspicious Transaction Reports (STR) to the UIAF, as established in the regulations. The sending of the STRs must be done through the Sirel of the Uiaf.
Now the operations with cryptocurrencies are not illegal in the country. However, the authorities are seeking to regulate this type of transaction a little more, which can already be done in some companies.
“Virtual assets have created a situation that merits the intervention of the UIAF, to the extent that, although they are operations that in Colombia are not illegal by themselves, they can lend themselves to illicit activities, due to the anonymity or pseudonymity in the transactions. , the absence of support from the central bank and the non-recognition as an instrument that has liberating power”, they explain.
Finally, non-compliance with the regulations will give rise to the respective fine or sanction contemplated by the Superintendency of Companies.