Being aware of the evolution of the private sector and the adoption of new technologies in all sectors of the economy, in Abusaid Gomez & Asociados you will find a solid legal guidance for the creation and operation of technology platforms, with successful experience in FinTech areas such as mobile applications, payment gateways, virtual wallets, application requirements according to the service provided, among others.
Our team has an extensive knowledge of the provisions and applicable regulations so that technological platforms can operate and grow while fulfilling the obligations related to the protection of sensitive data in the digital platforms, the European General Data Protection Regime, and other applicable requirements according to the nature of the platform.
Colombia’s cryptocurrency bill seeks to provide a ground of legal security for the industry
Considering that last year the cryptocurrency market was valued in USD 540 million, it is easy to see why this industry has multiplied its growth in Colombia at an alarming speed. Despite this, until now Colombian institutions have failed to provide legal security for cryptocurrency operators and acquirers.To emend this situation, Congress is discussing a cryptocurrency bill, which also addresses the use of blockchain technology.
Colombia: the business destination for foreign investors during and after covid-19
Although the Covid-19 crisis will greatly affect the different economies of the world, Colombia is expected to be one of the least hit by the current crisis. Despite the fact that the World Bank indicated that there is a negative forecast of -2.4% for the country for the remainder of 2020, this decrease in GDP growth positions Colombia as one of the economies that will be less affected by the restrictions imposed due to the virus.
What Fintech companies should know about legal regulations in Colombia.
After a 61% growth last year, Colombia currently has the third biggest Fintech Industry in South America. Despite that, currently Colombia does not have a single proper Fintech regulation nor even a bill about it, even when the government and other sectors have widely acknowledged its importance, as they are currently becoming one of the decisive agents for the future of the worldwide financial industry.
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