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Bitcoin ATMs are booming in this Latin American country

October 27, 2020

Colombia now has the largest number of Bitcoin (BTC) ATMs in Latin America. According to CoinATMRadar, Bogotá, the country’s capital, has 34 ATMs, followed by Medellín with 11 and Bucaramanga and Cali with 4. Other cities with at least one ATM are Armenia, Barranquilla, Cartagena, Cúcuta, La Hormiga and Pereira.

Until recently, Countries like Venezuela and Argentina have been viewed more often as crypto hotspots in terms of regional adoption due to factors such as political and economic turmoil.. However, Colombia has taken important steps to regulate the nation’s cryptosphereand his government approved a pilot program to test cryptocurrency transactions in September. The pilot, which operates in a recently established regulatory test environment, runs through December 31st.

In September, the Colombian Ministry of Information Technology and Communications or MinTIC published a draft guide calling on the public sector to adopt blockchain technology including crypto payments.

Bitcoin ATMs are booming in this Latin American country
Bitcoin ATMs are booming in this Latin American country

Figures released by Statista in August showed that the adoption of cryptocurrencies in Brazil, Colombia, Argentina, Mexico and Chile was in double digits.