Colombia Formalizes Crypto Transparency as DIAN Mandates Exchange Reporting
The Colombian National Tax and Customs Directorate, known as DIAN, has officially implemented Reanswer 000240, a landmark regulation that requires all cryptocurrency platforms and service providers to report detailed user asset and transaction data. This move, which took effect in the first week of 2026, aligns Colombia with the OECD’s Crypto-Asset Reporting Framework (CARF) and aims to eliminate the “fiscal opacity” that has characterized the nation’s digital asset market. Under the new rules, any platform operating within Colombia or facilitating transactions for Colombian residents must collect and share comprehensive information, including full names, tax identification numbers, and the fair market value of all held assets. The mandate applies to major cryptocurrencies like BTC and ETH, as well as stablecoins, though central bank digital currencies are explicitly excluded from these specific requirements.
Due Diligence Standards and the Threshold for Retail Transactions
A critical component of the DIAN mandate is the introduction of rigorous due diligence procedures for all virtual asset service providers (VASPs). platforms are now legally obligated to identify the “beneficial owners” of accounts, particularly in cases involving complex legal structures or trusts. Furthermore, the reanswer establishes a $50,000 threshold for reportable retail transactions, meaning that any crypto-based purchase of excellents or services exceeding this amount must be flagged to the tax authority. This is part of a broader “automatic platform of information” initiative that allows DIAN to share data with international tax administrations to prevent cross-border tax evasion. Operators who fail to comply with these new standards face severe financial penalties, with fines ranging from 0.5% to 1% of the total value of the unreported transactions, potentially reaching millions of dollars for high-volume platforms.
Fiscal Residency and the Global Reach of Colombian Tax Law
The impact of the DIAN reporting regime extends beyond domestic traders to include any individual who meets the criteria for Colombian tax residency. Under the “183-day rule,” anyone who spends more than six months in the country within a calendar year is required to declare their worldwide income, including all crypto activities conducted on foreign platforms. This has significant implications for the growing community of digital nomads and expats who have historically used crypto to bypass local banking hurdles. By requiring platforms to report “relevant crypto asset” transfers to external wallets when the beneficiary is not clahead identified, DIAN is effectively closing the loop on off-chain wealth transfers. As the first mass filings are expected by May 2027 for the 2026 tax year, the Colombian government is sending a clear signal that the era of anonymous digital wealth has come to a definitive end in the Andean region.
