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)

556: The Colombia that is Silenced

556: The Colombia that is Silenced

This week on the Colombia Calling podcast, we speak to Lorena Estupiñán-Pedraza, a professor of international relations and political science from Boyaca, but resident in the southern city of Cali. In a far-ranging conversation, we discuss Lorena's PhD studies public policy implementation in Boyaca, local problems with global impacts and all about what it means to be from Boyaca and to understand the Boyacense idiosyncrasy and culture. Tune in to this, the Colombia Briefing with Emily Hart and subscribe to the podcast.

25 Feb 1h 10min

555: "The World is Sick," a New Documentary on the Ancient Healing Medicine of Ayahuasca

555: "The World is Sick," a New Documentary on the Ancient Healing Medicine of Ayahuasca

A new documentary, in the making, seeks to document the sacred nature of an ancient medicine. We're all familiar with vivid tales of projectile vomiting and the complete loss of bodily functions during an ayuahuasca ceremony but who, amongst us, has really explored the benefits of a ritual? This documentary seeks to educate us, through a carefully curated journey from the lands of the Taitas (shamans) in Putumayo, the process of creating the ayahuasca (also known as Yage), to the preparation of the ceremony, the ritual itself and then a reflection of the ceremony and its outcomes. The documentary maker: Sam Lipman-Stern is an Emmy Nominated Filmmaker with a passion for the visual arts that dates to his early days as a graffiti artist. In August 2023, HBO released Telemarketers, a 3-part limited documentary series created, executive produced and co-directed by Lipman-Stern. Time Magazine called it, "One of the Most Exciting Docuseries in Recent Years!" Sam Believ founded LaWayra retreat together with his wife Estefania in 2021. LaWayra was born as a passion project from the desire to drink medicine from our home and share medicine with some friends and slowly grew to become one of the best Ayahuasca retreats in the world. At the retreat they provide a world class Ayahuasca experience and stays for affordable prices. Check out: https://ayahuascaincolombia.com/ The Colombia Briefing is reported by Emily Hart View her Substack: https://harte.substack.com/ And please consider supporting the Colombia Calling podcast: https://patreon.com/colombiacalling

18 Feb 1h 5min

554: Lies, Damned Lies and Disinformation in Colombia

554: Lies, Damned Lies and Disinformation in Colombia

Jonathan Swift, "Falsehood flies, and truth comes limping after it.” … never truer than in 2025 This week on the Colombia Calling podcast Emily Hart and Richard McColl tackle the issue of disinformation and fact-checking in Colombia and fortunately, we don't have to take on this task alone but are joined by two experts in the field. Laura Sarabia Rangel is the Editor of El Detector de Mentiras at La Silla Vacia and Jose Felipe Sarmiento joins us from ColombiaCheck and we get to pick their brains about the need for fact-checking, disinformation in Colombia and how one undertakes the process of finding the truth.  There have been so many circumstances where people and politicians have been saying things that are simply untrue, in Colombia specifically, about the health reform, the stigmatisation of indigenous communities or the denialism of the False Positives, to name a few.  So, we get to hear how Laura and Jose Felipe work, put some rumours and untruths to bed and discuss what readers and consumers can do to make sure they’re consuming high quality media.  The Colombia Briefing is reported by Emily Hart.

11 Feb 1h 10min

553: From the Indian Plains to the Andes Mountains

553: From the Indian Plains to the Andes Mountains

Sometimes, it's just fun to have an agreeable conversation, and this is why I enjoyed chatting to Vivek Jayaraman. Vivek was born in Tamil, India and in the way life takes its unusual routes has ended up living in northern Bogota and with a love of mountains - he's from the plains - and a firm desire to know and understand the regions of Cundinamarca and Boyacá, Colombia. In his words: "Thus was born Project Boyacá and Project Cundinamarca. The idea being that I visit all the 123 and 116 municipalities atleast once. "People associate this part of the world with drugs, violence and the remote jungles. My attempt is to try and change this perception, taking into account that Colombia is my wife's home country. "I got fascinanted by small towns having grown up in similar places back in India. It was equally impressive to see names of the towns that can trace their origins to the indigenous culture of Muisca that dominated this region - Guachetá, Guachetá, Machetá for example - Chetá refers to farmlands. The indigenous origin is not too appreciated here I also wanted to create awareness of these. "My wife is from Guachetá, Cundinamarca which is believed the town of the Son of Sun - Goranchacha, which she did not know before I met her. "Eventually I want to have a repository of these travels in a website with photographs, Instagram being an easy way. I have made 100 posts each year 2022 onwards. I was this close to create a calendar last year with photos from specific regions, then it was too expensive and too late. This being, the idea of India through the eyes of India." What a wonderful story, you'll agree. The Colombia Briefing is reported by Emily Hart.

4 Feb 52min

552: The Myth of the Narco

552: The Myth of the Narco

In order to understand the issue of the cocaine trade in Colombia, we need to look at three factors: 1. Drugs Policy as a Geopolitical tool. 2. Markets: A Political Economic issue. 3. Narratives: the Myth of the Narco. On the Colombia Calling podcast this week we speak to Estefanía Ciro Rodríguez, expert on drug politics, the cocaine economy and the Colombian armed conflict. We discuss la Escombrera in Medellin, Pablo Escobar, Álvaro Uribe Vélez, Arms trafficking by the Sinaloa cartel and the Cártel de Jalisco Nueva Generación to Colombia, genetically modified coca, cocaine seizures, the price of cocaine, and why Colombia as a nation needs to look in the mirror. Check out: https://alaorilladelrio.com The Colombia Briefing is reported by Emily Hart. Support her on Substack: https://substack.com/@ehart and Support us on: https://www.patreon.com/c/colombiacalling

28 Jan 1h 17min

551: Following in the footsteps of Roger Casement in Colombia

551: Following in the footsteps of Roger Casement in Colombia

Brendan Corrigan has had multiple jobs in his time in Colombia (dating back to 2011), and his most constant has been that of a contributing writer of acerbic observations for the El Tiempo national newspaper, with an office job in marketing thrown in for good measure and some forays into the acting world by way of a telenovela (soap opera) appearance here and there. However, there's been an ever present itch and it has been his desire to get out into the wilds of Colombia to see and experience some of the ground covered by "the forefather of human rights," Irishman Roger Casement. Aside: Who was Roger Casement? Roger Casement was commissioned to undertake a report on the reported abuse of workers in the rubber industry in the Putumayo basin in Peru. The report was published as a parliamentary paper (1911) and had considerable impact, gaining Casement international recognition as a humanitarian, his contribution being acknowledged with a knighthood. Anyhow, Brendan being an Irishman in Colombia has felt the strong urge to pursue some of the history surrounding his countryman and this led him to travel to La Chorrera in the department of Amazonas in Colombia where Casement had worked. We hear his tales from the road in Bogota, San José del Guaviare and la Chorrera. The Colombia Briefing is reported by Emily Hart.

21 Jan 1h 10min

550: Erin Donaldson in Colombia's Coffee Region

550: Erin Donaldson in Colombia's Coffee Region

As there are now a growing number of people considering moving to Colombia, and where better than the country's enticing Coffee Region, we decided to focus on this topic for this week. Known for its natural beauty and landscapes, lush countryside, friendly and hard-working people...it's an easy sell. But what happens when you are ready to take the next step beyond internet research and start the actual process of moving your life to the cities of Manizales, Pereira or Armenia or a pueblito nearby? This is where Erin Donaldson comes in!  A long-time immigrant to the Eje Cafetero and now resident in Manizales, Erin knows the whole area like the back of her hand and can furnish anyone with all the information necessary:...taxes - no problem, healthcare - easy days, travel and transport - piece of cake. She'll help you make that transition from expat to immigrant. Enjoy this engaging conversation and check out her website: https://coffeeaxistravel.com and there find links to all of her other social media platforms including her YouTube channel. The Colombia Briefing is reported by Emily Hart.

14 Jan 1h 1min

549: Travel Trends in 2025

549: Travel Trends in 2025

Have you heard of "destination duping," "rosy retrospection," "JOMO," or "trailblazer hotels?" Well, with Colombia of course in mind given that this is the Colombia Calling podcast, we leap into 2025 with an upbeat episode discussing travel trends for this year. We mull over each of the aforementioned phrases with Bruce Mclean, travel expert and owner of BNBColombia Tours. Hear us talk about how Colombia may just return to being an "emerging tourism" destination again and stepping beyond this to establish itself as a global player...there's still a way to go, but it can happen and things are looking good for both 2025 and 2026.  Oh and "JOMO," means "Joy of Missing Out!" Can you travel this way?  Check out: https://bnbcolombia.com

7 Jan 1h

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