Will Crypto Help Colombia To Get Out from Economic Crisis
In the present time Colombia is facing lots of debt crises and also economic crises. To give stability, the financial authority of Colombia piloted a program that supports Colombians to go with crypto with full freedom.
Recently in March & May, many anti national people protested against the Colombia ruling government to criticize their working system on financial services in Colombia. Clearly, the government of Colombia failed to sustain the economic stability of their country and now they are in such a measurable situation.
So to overcome this problem, The country’s financial regulator, Superfinanciera announced a program that will run for the next 12 months. Through this program, all Colombians have freedom to change their cash or Colombian Pesos into crypto and other assets without any restriction under certain rules.
Colombians will be able to operate cash-in and cash-out actions via Movvi and Bitpoint.
In a recent report of Buda.com which is Chilean Cryptocurrency Exchange. Report shows that the trade volume of the first quarter of 2021 crossed total volume of whole 2020. This shows how people are in that situation of economical crisis and want to choose alternative options to get in a better situation.
Well it is worth seeing how much Colombia will overcome through their Economic Crisis with the help of crypto assets adoption for their citizens.