Colombia’s new president seems to be a bitcoin fan

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Gustavo Petro, who recently won the Colombian presidential election of 2022, has already made statements in favor of cryptocurrencies.

Petro will replace Iván Duque Márquez as Colombia’s president on August 7 for four years after winning the second round of a run-off on Sunday. The elected president took on social media in December 2017 shortly after a major bull run to talk about the “strength” of Bitcoin (BTC). Petro hinted at the time that cryptocurrencies like BTC could take power away from government and traditional banks and return it to the people.

His running mate, Francia Márquez, who will become Colombia’s vice president, has remained largely silent on crypto-related policies. Some remarks from the 2021 President-elect included a response to Salvadoran President Nayib Bukele’s idea of ​​building volcano-powered crypto miners in which he suggested the country use the natural resources of its west coast to mine crypto.

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“Virtual currency is pure information and therefore energy,” Petro said at the time.

With Petro due to take office in August, the politician who many have described as “left-wing” will join other world leaders who have adopted policies or otherwise spoken out in support of crypto adoption. Bitcoin has been accepted as legal tender in El Salvador since September 2021. In April, Panama’s legislature approved a bill that would have created a regulatory framework for crypto, but President Laurentino Cortizo partially vetoed the measure in June. , citing anti-money laundering concerns. , or AML, rules.

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Related: Colombia cracks down on crypto tax evasion as adoption grows

With approximately 52 million people living in Colombia, the South American nation is one of the most active in crypto trading in the region, according to data compiled by Usefultulips. In February, leading Latin American crypto exchange Bitso launched in Colombia as part of an effort to promote adoption and financial inclusion.

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