The first bitcoin exchange in Colombia has been forced to close after receiving complaints from the Colombian authorities.
After only eight days of operating, Colbitex announced on social media that it has stopped trading while the authorities review the relevant legalities.
In the post the company said:
Dear users, we are going through some processes and themes of normativity in order to be able to continue operating within the law.
In the next few days we will generate a statement by extending this information.
Please ask for the withdrawal of their funds through an email to [email protected] or by means of a support ticket at https://colbitex.freshdesk.com/ the withdrawals will be processed immediately.
Colombia’s Vision for Colbitex
On June 3, Colombia’s first bitcoin exchange was launched in a testnet mode. It seemed that the country was the ideal location to unveil a bitcoin exchange to boost the adoption of cryptocurrency within Latin America.
Founded by Roman Parra, an industrial production engineer and marketing specialist, and Carlos Mesa, a computer systems engineer, they envisioned a dream of creating an exchange that would stop illegal activities, but