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1. Regulatory efforts to integrate financial services to daily activities

Among others, CONPES 4005 seeks to provide citizens and small companies with a greater supply of tailored financial products and improve the access to formal financial services that will generate better knowledge and confidence in the financial system.

2. New rules on special insolvency procedure due to COVID - 19

The National Government issued Decree1332 regulating Decree 772 of 2020, applicable to processes of abbreviated reorganization and simplified judicial liquidation for small insolvencies, aimed at debtors with assets less than or equal to five thousand, monthly legal minimum wages in force. 

3. Cryptocurrencies cannot be contributed to Colombian companies

The Superintendence of Companies explained that because cryptocurrencies are not considered as an official currency by the legislator or the Central Bank its use is not permitted in Colombia. 

4. Influencers and advertisers have a new standard to regulate their relationship and content.

The "Guide to Good Advertising Practices through Influencers", issued by the Superintendence of Industry and Commerce, defines who influencers and advertisers are and sets recommendations towards protecting the consumer from, among others, misleading marketing.