Colombia’s First Bitcoin Exchange Colbitex Forced to Close Up Shop

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Colbitex, Colombia’s initial Bitcoin sell launched a height in testnet mode on Jun 3, 2016. The use was operative without any incidents for a past month, and on Jul 25 a sell entered a beta phase, where genuine sell took place.

Colbitex’s Run Lasted 8 Days

The use operated normally for a space of 8 days, with an average daily volume of 1.44 BTC. However, on Aug 2, a association announced a discontinuation of a website:

Dear customers, we are now reviewing some of a processes and regulatory framework, with a hopes of continuing to yield a legally viable service. We will recover serve information in a subsequent days. We petition a business to hit a support department to routine all withdrawals.

Colbitex was charity Bitcoin sell services with internal banking (The Colombian Peso COP). The cessation comes a week after Colbitex entered grave operations and it’s a vital reversal for a internal Bitcoin ecosystem. The regulatory rider will settle a authorised fashion in a government’s position on cryptocurrencies.

Legal Status of Bitcoin in Colombia

The authorised standing of Bitcoin and other cryptocurrencies in Colombia isn’t scrupulously defined. Virtual currencies (including crypto) are not famous as authorised income nor they are prohibited.

The Superintendencia Financiera de Colombia (SFC) is the

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