Core Insights - Colombia is tightening oversight of its crypto market by mandating exchanges and service providers to collect and report detailed user data as part of a tax enforcement initiative [1][5] - The country has adopted the OECD's Cryptoasset Reporting Framework, with a deadline for the first nationwide crypto reports set for May 2027 [2][3] Regulatory Framework - Under Resolution 000240, crypto exchanges and service providers must perform enhanced due diligence and share user and transaction data with tax authorities, including for international exchanges [2][4] - The reporting obligation applies to both domestic and foreign platforms serving Colombian residents, regardless of whether they hold a specific crypto license [5][6] Reporting Requirements - The first large-scale reporting will cover all crypto activity performed in 2026, with detailed reports required on account ownership, transaction volumes, and market values of operations involving major cryptocurrencies [3][4] - Transactions exceeding $50,000 will trigger automatic alerts to the tax authority, DIAN, indicating a focus on monitoring large payments and transfers [7] Current Market Context - Despite the lack of a comprehensive licensing regime for crypto exchanges, they are expected to comply with general tax, anti-money laundering, and know-your-customer regulations [6]