Cryptocurrency Exchanges in Colombia Face New Compliance Mandate on User Data Reporting

Colombia’s tax authority has intensified its push toward greater transparency in the digital asset market by implementing stricter reporting standards for crypto platforms operating within the country. Under Resolution No. 000240, issued by the Colombian National Tax and Customs Directorate (DIAN), all cryptocurrency service providers—whether based domestically or internationally—must now furnish comprehensive information regarding their Colombian user base and transaction patterns.

What Data Must Be Reported?

The directive requires exchanges and intermediaries to compile and transmit detailed records encompassing several key data points. These include the identification and account ownership information of crypto holders, the aggregate transaction volume processed, the frequency of transfers executed, the market valuations of digital assets held, and the net balances maintained across accounts. This broad scope of reporting aims to create a more transparent ecosystem within Colombia’s crypto sector.

Timeline and Penalties for Non-Compliance

The regulatory framework establishes a clear deadline for the initial submission cycle. Cryptocurrency platforms must deliver their first comprehensive report covering the 2026 tax year no later than the final business day of May 2027. Those who fail to meet this deadline or provide inaccurate information face significant financial consequences—specifically, fines calculated at up to 1% of the total transaction amount that went unreported.

Regulatory Intent Behind the Measure

The underlying motivation for this resolution is straightforward: combat tax evasion by ensuring that individuals using crypto assets cannot escape their tax obligations. By requiring exchanges to serve as intermediaries in the reporting chain, Colombian authorities are closing potential loopholes where digital asset transactions might previously have gone undocumented. This approach mirrors regulatory trends seen across Latin America and globally, where governments increasingly view crypto market oversight as essential to maintaining fiscal integrity.