Countries That Incentivize Investment in Cryptocurrency with Lower Tax Rates

Financial Services attorney Camilo Gantiva Hidalgo was cited in a La República article commenting on the global cryptocurrency regulation landscape. The article distinguished crypto paradises – countries where crypto earnings are not taxed, among other fiscal incentives – crypto-friendly countries – have a defined legal framework and lower tax burdens – and crypto-neutral – governments have adopted measures to regulate cryptocurrencies but still lack a regime specifically dedicated to these virtual assets. Colombia finds itself in the last group, and Mr. Gantiva Hidalgo pointed out this has generated uncertainty for investors.

"The chief risk can be the absence of a comprehensive law that grants judicial certainty and user protection, as well as clear rules for the financial and non-financial sectors to operate with digital assets," he said.

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