The Bank of the Republic of Colombia described as false an alleged news story that would have circulated in the internet in which it was stated that their manager, Juan José Echavarría, launched a platform called Bitcoin Time, which would serve to promote the adoption of the cryptocurrencies among colombians.In a message released on his twitter account, the colombian central bank pointed out that the untrue report was circulated on the internet, but does not name the media outlet that published it nor linked to the web page with the alleged information.In its place, the bank shared an article entitled “Criptoactivos” in which he states that the cryptocurrencies “lack of the attributes of the legal currency and are not susceptible of being considered as”money.“The @BancoRepublica reports circulating on the web a news is false regarding an endorsement of our general manager of a platform of bitcoin. If you want to know the analysis of the Bank of the Republic on virtual currencies and their risks, see”, published by the institution, in the social network with a link to the aforementioned text.
Course “Bitcoin Time”
Digital media colombian outlined that the news was disseminated on a website called Faint Green Glow, and that the so-called platform Bitcoin Time was officially inaugurated during the event CFO Forum in Bogotá, it was reported last Saturday. However, a search conducted on Google and Bing about this web page not yielded results on its content, news or editorial line.The position of the bank and Juan José Echavarría on the cryptocurrencies is the non-recognition. For the institution, “these are not obligations that are legally recognized”, while for the manager, the presence of bitcoin in the financial system in colombia is illegal.Although Echavarría has questioned the nature of bitcoin and the cryptocurrencies in general, yes you want to involve as part of the system of the State to say that the holders of bitcoin have to pay taxes, which shows a double assessment on the cryptocurrencies.In February last year, the manager noted that those with bitcoins “have to pay taxes, because they have higher income,” a claim that was not supported since precisely the cryptocurrencies seek to include in the finance to those people who are outside the banking system, for example.In November of this year, the Bank of the Republic published an analysis of the cryptocurrencies based on the academic literature available on the new form of money. On the principle of decentralization in which they are based, digital systems such as Bitcoin, the bank indicated that these are moving away from its initial purpose of being a distributed network and independent, as it considers that more closely resembles a network with a low level of distribution.