Gustavo Petro, who recently won the 2022 Colombian presidential election, has previously made statements in favor of cryptocurrencies.

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Petro will replace Ivan Duque Marquez as President of Colombia on August 7 for four years after winning the runoff runoff on Sunday. President-elect took on social media in December 2017, shortly after a major bull run, to talk about the “power” of bitcoin (BTC). At the time, Petro hinted that cryptocurrencies like BTC could take power away from the government and traditional banks and give it back to the people.

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His running mate, Francia Marquez, who will become Colombia’s vice president, has largely kept quiet about crypto-related politics. Some remarks from the President-elect in 2021 included a proposal that the country use the natural resources on its west coast to mine cryptocurrencies in response to El Salvador President Nayiba Bukele’s idea to build miners on volcanoes.

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“Virtual currency is pure information and therefore energy,” Petro said at the time.

With Petro due to take office in August, the politician many have described as “leftist” will join other world leaders who have adopted policies or otherwise spoken out in favor of cryptocurrency adoption. Bitcoin has been accepted as legal tender in El Salvador since September 2021. In April, Panama’s legislature approved a bill that would create a regulatory framework for cryptocurrencies, but President Laurentino Cortiso partially vetoed the measure in June, citing anti-money laundering concerns. , or AML, rules.

Colombia cracks down on cryptocurrency tax evasion as adoption thrives

Colombia is home to around 52 million people, and the South American nation is one of the most active cryptocurrencies in the region, according to the data. drawn up by Usefultulips. In February, major Latin American crypto exchange Bitso was launched in Colombia as part of an effort to promote adoption and financial inclusion.