510: Cryptolombia? Digital currencies in Colombia and Latin America

510: Cryptolombia? Digital currencies in Colombia and Latin America

This week, Emily Hart is setting out into the Wild West of cryptocurrencies here in Colombia and beyond.

Is cryptocurrency the future of finance in Latin America? Is it safe? Is it just another way for rich people to hide their wealth from the tax man? Or for criminals to launder income? Or could it be a way for people to take banking into their own hands, a way for all of us to take control from a global system of banking we have so little say in?

To explain all of that, we have on the show today Mat Di Salvo, Colombia-based correspondent covering crypto since 2019 for Decrypt, and two experts from Global Financial Integrity, a Washington DC-based think tank focused on illicit financial flows, corruption, and money laundering. Claudia Helms is the Director of the Latin America and Caribbean Program at GFI, having worked at the Organization of American States; And formerly at the UN, Claudia Marcela Hernández works as Policy Analyst for Central America in Global Financial Integrity.

By early 2020, the region had 15.8% of the total volume of bitcoins worldwide, and it has grown exponentially since then. Last year, Mexico, Brazil, and Argentina were in the top 20 for global adoption – Colombia was 32nd in the world. Venezuela was 40th.

Looking at crypto in any country requires a close look at the context, unique in every case: this region is turning to digital and virtual currencies for many different reasons, using it to send remittances, invest, and save – especially important in countries that have unstable governments, high inflation, or low levels of trust in institutions.

Here in Latin America, levels of poverty and informal employment might create barriers to usage, while technological and educational gaps create unique challenges for users, especially when a new digital revolution of cryptocurrencies and virtual assets arrives without adequate regulation, government oversight, or consumer awareness – particularly around scams and security. This is why GFI started https://criptoabierto.com/ - a set of resources around crypto in Latin America designed for users and policy-makers alike.

Basically, regulation of cryptocurrencies in the region does not adequately match its current usage and adoption. Colombia has yet to adopt legal framework, despite a growing number of users, but there is movement around this issue and various institutions have released commentary on it, and President Gustavo Petro has expressed interest in encouraging crypto usage - and mining - in the country.

Thanks to the anonymous nature of this universe, it’s difficult to get accurate data on exactly who is using crypto and what for, and though it’s certainly not only criminals using these currencies and assets, they have high potential for money laundering and channelling illicit flows of money, from stolen funds and fraud to payments for illegal goods and funding of terrorist groups.

We’ll be talking about the opportunities and risks associated with cryptocurrencies, how their form and use are evolving, plus how (and why) cryptocurrencies can and should be regulated.

The Colombia Briefing is also reported by Emily Hart – to get it direct to your inbox or email, you can subscribe to the Colombia Briefing via her Substack substack.com/@ehart or subscribe to the podcast’s Patreon.

Episoder(100)

572: Álvaro Uribe: The Early Years and Rise to Power, 1952-1994

572: Álvaro Uribe: The Early Years and Rise to Power, 1952-1994

Few figures in Latin American politics polarize opinion like Colombia’s former president, Álvaro Uribe. Right now, Uribe, Colombia’s president from 2002 to 2010, faces charges of bribery, procedural fraud, and bribery in a judicial proceeding. Prosecutors must determine whether he instigated others to manipulate witness testimony in an attempt to mislead the judiciary for his benefit.   So, along with Adriaan Alsema, director of Colombia Reports, we take a deep dive into the "early years" from Uribe's birth in Salgar, Antioquia and up until his campaign to become governor of the department, taking in his education, his role on the Medellin city council, director of Aerocivil, Mayor of Medellin and many family connections.    Allegations of ties to drug cartels and paramilitaries have dogged him since the early 1980s, when the civil aviation agency he then led was accused of giving air licenses to drug traffickers. Declassified State Department cables from a decade later show U.S. officials were told the up-and-coming politician had ties to cartels.   In future episodes we will look at further details surrounding Colombia's most powerful political force.    The Colombia Briefing is reported by Emily Hart.

24 Jun 1h 45min

571: Forty Days Lost in the Colombian Amazon

571: Forty Days Lost in the Colombian Amazon

Remember the story that made the headlines for several weeks about the four Huitoto children, lost for forty days in the Colombian Amazon after the aircraft they were travelling in crashed? Well, our friend Mat Youkee has written the definitive book on this event, a triumph of the human spirit and survival, but he also delves into the history of the Amazon, the exploitation and mythicism therein. Tune in to a fantastic episode detailing the lives of the four Mucutuy children, the lives of many indigenous families of the area, their struggles in the armed conflict and much more. Buy the book! https://a.co/d/j5E0P05 Mat Youkee has lived in Panama and Colombia since 2010, working as a freelance journalist and professional investigator. He has covered Indigenous-rights issues in Colombia, Panama, Chile, and Argentina for The Guardian. His reporting has also appeared in The Economist, The Telegraph, the Financial Times, Americas Quarterly, Foreign Policy, and other local and international publications.   And, tune in to the Colombia Briefing with Emily Hart: https://harte.substack.com

17 Jun 1h 10min

570: The True Story of how DEA Agents brought down the Cali Cartel

570: The True Story of how DEA Agents brought down the Cali Cartel

Former DEA agent Chris Feistl and literary collaborator Jessica Balboni discuss the new book: "After Escobar: Taking Down the Notorious Cali Godfathers and the Biggest Drug Cartel in History," on the Colombia Calling podcast with Richard McColl and Emily Hart. Arriving in Colombia in 1994, a year after Pablo Escobar had been killed, Chris Feistl was charged with the task of dismantling the all-powerful Cali cartel. In this new book, he details his failures, successes and close calls. Jessica Balboni joins us as well to discuss the writing process. Buy the book! https://a.co/d/fXriXC1   Chris Feistl was a DEA Special Agent for twenty-six years, serving in diverse assignments throughout the US as well as twelve years in Colombia, South America, where he investigated major drug cartels that were supplying tons of cocaine and heroin destined for the US. Starting as a new agent in Miami, he finished his career as an Assistant Special Agent in Charge in Phoenix in 2014. Jessica Balboni is a Boston-based writer and editor with a diverse background in media that spans artistic, academic, corporate, and nonprofit sectors, including roles held with the Food Network, The Rockefeller Foundation, and ESPN.     The Colombia Briefing is reported by Emily Hart.

10 Jun 1h 4min

569: La Escombrera: Colombia's Largest Urban Mass Grave

569: La Escombrera: Colombia's Largest Urban Mass Grave

La Escombrera, a vast rubble pile overlooking Medellín, is considered to be Colombia’s largest urban mass grave. Its excavation this year has unearthed the remains of people whose families have been searching for them for decades.  Earlier this month, it was announced that the excavation there is being expanded. Some hope that what is found in that rubble will answer deeper questions - about how the conflict unfolded here in the city, and how the state was complicit in murders and human rights violations committed by paramilitary groups. This week, Emily Hart, journalist and Colombia Calling host, takes us through an article she wrote on her Substack about La Escombrera, the dynamics and history of Colombia's civil conflict, and about how this war - largely characterised by rural conflict and guerrilla tactics - ended up radically changing the face of Colombia’s cities. Sign up and subscribe to Emily's Substack: https://harte.substack.com And don't miss, the Colombia Briefing reported by Emily as well.

3 Jun 36min

568: Coaching collaboration and solidarity in Colombia

568: Coaching collaboration and solidarity in Colombia

Heather Luna, a native of Michigan with strong ties to Colombia, spent a significant time in the UK before moving to Tabio. Since then, she has been working remotely offering consultations, consulting and workshops and showing people the value of collaboration and solidarity.   Her work has embraced questions of identity - including her own -, environmental causes and human rights causes and now she is moving across from a solely anglophone audience to a Colombian one as well.   We discuss what it means to grow up half Colombian, not speaking Spanish, connecting to extended family and making a new home here in a rural society.   Check out her website: https://keduzi.org   The Colombia Briefing is reported by Emily Hart.

27 Mai 1h 1min

567: Early Onset Alzheimer's Investigated and Revealed in Colombia

567: Early Onset Alzheimer's Investigated and Revealed in Colombia

It's an absolute honour to welcome author Jennie Erin Smith on the Colombia Calling podcast this week to discuss her latest book in which she investigates and chronicles her six-year investigation into the phenomenon of early onset Alzheimer's in rural Colombia. Jennie speaks to Emily Hart and Richard McColl. In the 1980s, a Colombian neurologist named Francisco Lopera traveled on horseback into the mountains seeking families with symptoms of dementia. For centuries, residents of certain villages near Medellín had suffered memory loss as they reached middle age, going on to die in their fifties. Lopera discovered that a unique genetic mutation was causing their rare hereditary form of early onset Alzheimer’s disease. Over the next forty years of working with the “paisa mutation” kindred, he went on to build a world-class research program in a region beset by violence and poverty. In "Valley of Forgetting," Jennie Erin Smith brings readers into the clinic, the laboratories, and the Medellín trial center where Lopera’s patients receive an experimental drug to see if Alzheimer’s can be averted. She chronicles the lives of people who care for sick parents, spouses, and siblings, all while struggling to keep their own dreams afloat. These Colombian families have donated hundreds of their loved ones’ brains to science and subjected themselves to invasive testing to help uncover how Alzheimer’s develops and whether it can be stopped. Buy the book! https://a.co/d/giumqZR  The Colombia Briefing is reported by Emily Hart: https://harte.substack.com/

20 Mai 1h 25min

566: Peacebuilding Cannot Happen Without Security: Why the Killings of Social Leaders in Colombia Continues

566: Peacebuilding Cannot Happen Without Security: Why the Killings of Social Leaders in Colombia Continues

What explains selective violence against social and community leaders in the aftermath of war? Why does the killing of community and social leaders continue unabated in Colombia?  This week on the Colombia Calling podcast, we look at a new academic article entitled: "Delegative peacebuilding: Explaining post-conflict selective violence," written by Dr Sally Sharif and Dr Francy Carranza-Franco which explains so much regarding the on-going conflict in Colombia, the issue of "partial peace, who is doing the killing and why and hear some possible solutions.  Joining us is Dr Sally Sharif, School for International Studies, Simon Fraser University and Department of Political Science, University of British Columbia, Vancouver, Canada and incoming assistant professor of comparative politics at Holy Cross University, Boston.  The Colombia Briefing is reported by Grace Brennan.  Support us: https://www.patreon.com/c/colombiacalling

13 Mai 1h 17min

565: A Siberian in Colombia: Hearing from the Tabiuna Rusa

565: A Siberian in Colombia: Hearing from the Tabiuna Rusa

Victoria was never meant to come to Colombia, in fact, had things gone according to plan she would be in China right now. But, fate had a different path in mind for this native of a small town near to the city of Perm in Siberia, Russia. And so, on this week's Colombia Calling podcast, we hear from a Tatar far from her birthplace near to the Ural Mountains and find out how she ended up in the town of Tabio, 45km north of Bogota. Our conversation takes in her life as a language teacher (English, German and Russian), her arrival in Colombia, her beginner mistakes upon arriving in Colombia, life hacks that we all need here, her cultural adaptation, family traditions, body positivity in Colombia, love and relationships and her life now. Tune in to hear from someone who has truly embraced a new life in Colombia in what is an incredibly upbeat and positive episode of the Colombia Calling podcast. And if you fancy some language classes, check out: @tabiunarusa on Instagram.

6 Mai 1h 1min

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