Cryptocurrency Startups to Pay Lower Taxes on Rent in Colombia

Nations all over the world have made headlines for their newfound adoption of cryptocurrencies, including Colombia, who have recently opted to reduce rent in favour of crypto-related startups.


The president of the South American nation, Ivan Duque, revealed positive sentiments about the industry in his speech to a yearly international Info and Comm Tech conference. He detailed his initiative to cut taxes on rent for businesses and firms in the BC and crypto industry for around 5 years, reported a local news source. He also mentioned that by creating jobs in the digital sector, citizens of Colombia will have access to greater opportunities. 

He went on to say that the exploration of BC tech is key to promoting various facets of the ecosphere, including health, safety, and the prevention of corruption by keeping track of funding and eliminating fraud. 

Tech and Justice

President Duque explained that to prevent corruption, technology is key, and the government needs to act as a pioneer for a more progressive Columbia. 

He coined the term “digital justice” to describe the use of digital filing and easy access to a complaint system online to resolve problems more efficiently, and improve the policing and justice system in general. 

He said that in order to transform the concept of justice in the nation, tech and digital solutions can connect citizens with the government to fast-track progress. 

In addition, the president promised to make attempts at improving internet connections and networks in the nation, stating that although many in the country may feel as if they are connected to the digital world, the issue of connectivity is preventing its utmost potential. 

As a tech-aficionado himself, President Duque committed to his new initiative only a few weeks following his induction into the presidency after the former president, who did not have the cryptosphere in mind. 

He also said that there needs to be a private and public agreement to ensure that these goals are met, as regulators are crucial to the process. 

It seems to be evident that the digital currency and BC tech sector will see great innovations and groundbreaking regulatory moves throughout President Duque’s term, as his passion for tech and new, multi-faceted goals aim to improve civilian life. 

2 years ago

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