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Colombia’s new president appears to be a fan of Bitcoin

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Gustavo Petro, who lately gained the 2022 Colombian presidential election, has beforehand made statements in favor of cryptocurrencies.

Petro will change Iván Duque Márquez because the president of Colombia on August 7 for 4 years after successful the second spherical of a run-off election on Sunday. The president-elect took to social media in December 2017 shortly after a significant bull run to talk on the “strength” of Bitcoin (BTC). Petro hinted on the time that cryptocurrencies like BTC may take away energy from authorities and conventional banks and provides it again to the individuals.

His working mate, Francia Márquez, who will grow to be the vp of Colombia, has been largely silent on crypto-related insurance policies. Some of the president-elect’s remarks from 2021 included a response to El Salvador President Nayib Bukele’s concept of constructing volcano-powered crypto miners by which he advised that the nation use the pure sources of its western shoreline to mine crypto.

“Virtual currency is pure information and therefore energy,” stated Petro on the time.

With Petro set to take workplace in August, the politician many have described as “leftist” will be a part of different world leaders who’ve enacted insurance policies or in any other case spoken in favor of crypto adoption. Bitcoin has been accepted as authorized tender in El Salvador since September 2021. In April, Panama’s legislature authorized a invoice that may have created a regulatory framework for crypto, however President Laurentino Cortizo partially vetoed the measure in June, citing issues about Anti-Money Laundering, or AML, guidelines.

Related: Colombia clamps down on crypto tax evasion as adoption thrives

With roughly 52 million individuals dwelling in Colombia, the South American nation is one most lively i crypto buying and selling within the area, in line with knowledge compiled by Usefultulips. In February, main Latin American crypto change Bitso launched in Colombia as a part of an effort to ​​promote adoption and monetary inclusion.