Central Bank of Colombia
The central bank maintains monetary policy.
The Colombian Peso is the national currency.
The central bank has reported on the possible use of a CBDC in Colombia.
The report concludes that CBDCs do have drawbacks and a clearer regulation is needed.
“More importantly, some big players envisage the creation of new electronic monies (stable
coins) that could compete with central bank monies. This could pose a threat to sovereignty
and could lead to some kind of digital dollarization6. This threat has encouraged several
central banks to envisage offering central bank digital currencies(CBDCs), i.e. providing access to central bank reserves to the public.” Central Bank of Colombia