Colombia’s National Directorate of Taxes and Customs (DIAN) has directed crypto exchanges to report all crypto transactions exceeding $50,000. The move comes as the financial authorities there bid on cracking down on money laundering attempts via crypto assets.
As part of Resolution 000240, crypto exchanges are required to include details of the tokens used in facilitating hefty transactions at the time of reporting. The rule has entered into effect starting 2026.
In a wider picture, the step is also aimed at identifying and curbing instances of tax evasion via cryptocurrencies.
Financial Services attorney Camilo Gantiva Hidalgo and Tax attorney Juan Pablo Díaz have spoken about the resolution during an interview with Infobae.
“The crypto assets that should be reported are those that can serve for investment or payment means, such as Bitcoin, Ethereum and Dogecoin. Not presenting this information, an incomplete submission, with errors or outside the established timelines, will give rise to sanctions,” Hidalgo was quoted as saying.
Exchanges that are found in violation of this rule or misreporting numbers could have to pay up to one percent of the hidden or falsely reported transactions.
The rule comes in alignment with OECD’s Crypto-Asset Reporting Framework that has directed its 38 member nations to have crypto exchange report suspicious transactions.
In Colombia, retail investors have also been mandated to disclose their crypto holdings in tax filings. The country is gradually introducing guardrails to safeguard its crypto ecosystem.