Blockchain and Colombian Capital Markets: Regulatory Challenges and Opportunities
Financial Services attorney Juan Felipe Fontecha published an article for Lexir analyzing the legal challenges and opportunities related to the adoption of blockchain in capital markets. Mr. Fontecha explains that there has been a great interest, at a global level, in adopting blockchain as a tool that can decrease the costs and time incurred by agents that seek to finance themselves and obtain resources from the stock market. In Colombia, for example, 2022 saw the first bond whose issuance, payment and compliance took place through blockchain. In this article, the author details the legal regime applicable to the stock market and describes how it could impede the substition of blockchain for the different agents involved in the issuing process.