Colombian President Claims to Reduce Hire Taxes for Crypto Companies

Colombian President Ivan Duque has a short while ago promised to slash taxes for cryptocurrency and blockchain startups, area newspaper El Tiempo reported Wednesday, August 29.  

Duque shipped an opening message through ANDICOM, an worldwide congress on details and communications technological innovation (ICT) held every year in Cartagena de Indias, Colombia. A recording of his speech is now available on YouTube.

President confessed that he was “obsessed” with technological innovation, primarily with robotics and artificial intelligence (AI). He further pressured that Colombia requirements its possess regulator for the ICT sector and promised to create a large council for the transformation and electronic culture.

According to Duque, the use of innovative technologies could enable the point out tackle corruption together with increasing this kind of spots as protection, justice and medication. He proposed to leverage blockchain and AI to observe public funds and detect abnormalities.

Shifting on to the crypto sector, Duque promised to relieve cryptocurrency-linked firms of rent taxes for as extensive as five a long time, presented they deliver a certain number of new work opportunities.

Ivan Duque is the recent president of Colombia. He took office in August 2018 following profitable the elections before in May. The politician has a solid monetary history, earlier holding major positions in the country’s Ministry of Finance and Inter-American Improvement Bank.

As Cointelegraph documented earlier, Colombian senate is similarly optimistic about blockchain, stating that it “could transform life” following a discussion in June. In addition to that, a nationwide blockchain association was proven in the place in May perhaps.

At the same time, the country’s fiscal field has been quite sceptical about cryptocurrencies so much. For occasion, at 1 position Colombian banking institutions closed all accounts of a South American crypto trade, as Cointelegraph noted June 2018.

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