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Colombia Explores Creating a CBDC to Combat Tax Evasion

As part of a tax reform program, the government of the South American country also plans to impose limits on cash transactions.

Na-update May 11, 2023, 6:12 p.m. Nailathala Ago 17, 2022, 3:34 p.m. Isinalin ng AI
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Colombia is considering the introduction of a central bank digital currency (CBDC) to facilitate transactions and reduce tax evasion.

The information was confirmed by Luis Carlos Reyes, head of the Colombian Tax and Customs Office, who did not provide details on the proposal in an interview with the local magazine Semana on Monday.

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As part of a tax reform program pushed by President Gustavo Petro, who took office in early August, the government also plans to ban cash transactions for amounts surpassing 10 million Colombian pesos ($2,350).

“One of the important objectives is that when payments are made for a certain amount, they will be recorded in an electronic medium,” Reyes said.

Colombia joins other Latin American countries working on their respective CBDCs, including Brazil, Mexico and Peru.

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Protocol Research: GoPlus Security

GP Basic Image

Ano ang dapat malaman:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

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Small Texas Lender Monet Joining Field of Crypto-Focused Banks

(Brock Wegner/Unsplash/Modified by CoinDesk)

The bank is owned by billionaire Andy Beal, a major supporter of U.S. President Donald Trump's 2016 campaign.