Colombia Drafts Digital-Asset Bill With Tokenized Securities Rules

Colombia's Unidad de Regulación Financiera (URF), in collaboration with the Ministerio de Hacienda and Banco de la República, is currently drafting a comprehensive digital-asset bill to establish a formal regulatory framework. The proposed legislation aims to define authorization requirements, operational conditions, and enforcement mechanisms for digital-asset businesses operating within the country. A significant component of this initiative focuses on tokenized securities, specifically addressing how ownership registration, order handling, and clearing and settlement processes are managed. By integrating these functions onto a single platform, the URF intends to leverage smart contracts to automate and streamline traditional financial workflows. Furthermore, the proposal explores the potential for distributed ledger technology (DLT) to facilitate 24/7 securities trading and accelerate settlement cycles. While the bill remains in the development phase, its progression signals a proactive approach by Colombian state authorities to modernize financial infrastructure. This development is critical for the RWA market as it provides a clear legal pathway for the institutional adoption of tokenized assets in a major Latin American economy.