The country is relatively new to crypto adoption, but is quickly gaining momentum.
Colombia now has the largest number of Bitcoin ( BTC ) ATMs in Latin America
According to CoinATMRadar, there are over 34 ATMs in Bogota, the country’s capital, followed by Medellin with 11 and Bucaramanga and Cali with 4. Other cities with at least one ATM are Armenia, Barranquilla, Cartagena, Cúcuta, La Hormiga and Pereira.
Until recently, due to political and economic unrest, countries like Venezuela and Argentina were discussed more often than crypto hotspots with regard to regional acceptance. However, Colombia has taken important steps to regulate the country’s crypto industry. The government approved a pilot program to test crypto transactions back in September .
The pilot, which runs in a recently introduced regulatory sandbox, runs through December 31st
In September the Colombian Ministry of Information Technology and Communications (MinTIC) published a draft guide . It called on the public sector to use blockchain technology and crypto payments.
In August , Statista published a study that showed that the adoption of cryptocurrencies in Brazil, Colombia, Argentina, Mexico and Chile had reached double digits.