WEBVTT Kind: captions Language: en 00:00:00.000 --> 00:00:04.350 align:start position:0% foreign 00:00:04.350 --> 00:00:04.360 align:start position:0% 00:00:04.360 --> 00:00:12.549 align:start position:0% [Music] 00:00:12.549 --> 00:00:12.559 align:start position:0% 00:00:12.559 --> 00:00:16.129 align:start position:0% hi<00:00:13.559> everyone<00:00:13.799> I'm<00:00:14.400> here<00:00:14.700> to<00:00:15.000> remind<00:00:15.240> you<00:00:15.540> that 00:00:16.129 --> 00:00:16.139 align:start position:0% hi everyone I'm here to remind you that 00:00:16.139 --> 00:00:19.670 align:start position:0% hi everyone I'm here to remind you that even<00:00:16.500> though<00:00:17.039> uh<00:00:17.940> crypto<00:00:18.480> isn't<00:00:19.020> in<00:00:19.260> no<00:00:19.500> type 00:00:19.670 --> 00:00:19.680 align:start position:0% even though uh crypto isn't in no type 00:00:19.680 --> 00:00:22.070 align:start position:0% even though uh crypto isn't in no type of<00:00:19.800> crypto<00:00:20.220> is<00:00:20.460> currently<00:00:20.939> a<00:00:21.420> form<00:00:21.720> of<00:00:21.900> money 00:00:22.070 --> 00:00:22.080 align:start position:0% of crypto is currently a form of money 00:00:22.080 --> 00:00:24.470 align:start position:0% of crypto is currently a form of money in<00:00:22.320> Colombia<00:00:22.740> that<00:00:23.100> doesn't<00:00:23.220> mean<00:00:23.520> you<00:00:23.820> don't 00:00:24.470 --> 00:00:24.480 align:start position:0% in Colombia that doesn't mean you don't 00:00:24.480 --> 00:00:26.870 align:start position:0% in Colombia that doesn't mean you don't have<00:00:24.660> to<00:00:24.779> pay<00:00:24.900> taxes<00:00:25.320> on<00:00:25.560> it 00:00:26.870 --> 00:00:26.880 align:start position:0% have to pay taxes on it 00:00:26.880 --> 00:00:28.370 align:start position:0% have to pay taxes on it um<00:00:27.000> that's<00:00:27.359> a<00:00:27.539> joke 00:00:28.370 --> 00:00:28.380 align:start position:0% um that's a joke 00:00:28.380 --> 00:00:31.550 align:start position:0% um that's a joke um<00:00:28.699> yeah<00:00:29.699> no<00:00:29.939> but<00:00:30.180> even<00:00:30.359> even<00:00:30.720> you<00:00:31.439> know 00:00:31.550 --> 00:00:31.560 align:start position:0% um yeah no but even even you know 00:00:31.560 --> 00:00:33.110 align:start position:0% um yeah no but even even you know because<00:00:31.800> of<00:00:32.040> this<00:00:32.160> we<00:00:32.460> want<00:00:32.579> to<00:00:32.700> make<00:00:32.880> sure 00:00:33.110 --> 00:00:33.120 align:start position:0% because of this we want to make sure 00:00:33.120 --> 00:00:36.549 align:start position:0% because of this we want to make sure that<00:00:33.719> the<00:00:34.320> rules<00:00:34.680> for<00:00:34.980> paying<00:00:35.399> taxes<00:00:35.820> on 00:00:36.549 --> 00:00:36.559 align:start position:0% that the rules for paying taxes on 00:00:36.559 --> 00:00:40.130 align:start position:0% that the rules for paying taxes on crypto<00:00:37.559> and<00:00:38.280> crypto<00:00:38.700> related<00:00:39.059> activities<00:00:39.660> are 00:00:40.130 --> 00:00:40.140 align:start position:0% crypto and crypto related activities are 00:00:40.140 --> 00:00:42.950 align:start position:0% crypto and crypto related activities are are<00:00:40.379> clear<00:00:40.620> uh<00:00:41.520> we're<00:00:41.700> taking<00:00:41.879> steps<00:00:42.300> to<00:00:42.600> make 00:00:42.950 --> 00:00:42.960 align:start position:0% are clear uh we're taking steps to make 00:00:42.960 --> 00:00:45.650 align:start position:0% are clear uh we're taking steps to make that<00:00:43.260> uh<00:00:44.040> make<00:00:44.579> make<00:00:44.760> things<00:00:44.940> even<00:00:45.180> clearer 00:00:45.650 --> 00:00:45.660 align:start position:0% that uh make make things even clearer 00:00:45.660 --> 00:00:49.010 align:start position:0% that uh make make things even clearer than<00:00:45.960> they<00:00:46.200> currently<00:00:46.559> are<00:00:47.059> uh<00:00:48.059> a<00:00:48.360> few<00:00:48.539> of<00:00:48.840> you 00:00:49.010 --> 00:00:49.020 align:start position:0% than they currently are uh a few of you 00:00:49.020 --> 00:00:52.430 align:start position:0% than they currently are uh a few of you may<00:00:49.379> have<00:00:49.620> wondered<00:00:50.340> especially<00:00:50.879> if<00:00:51.180> you 00:00:52.430 --> 00:00:52.440 align:start position:0% may have wondered especially if you 00:00:52.440 --> 00:00:56.090 align:start position:0% may have wondered especially if you um<00:00:52.559> even<00:00:53.460> if<00:00:53.640> you<00:00:53.760> have<00:00:53.940> just<00:00:54.360> uh<00:00:54.840> used<00:00:55.440> a 00:00:56.090 --> 00:00:56.100 align:start position:0% um even if you have just uh used a 00:00:56.100 --> 00:00:59.569 align:start position:0% um even if you have just uh used a crypto<00:00:56.340> platform<00:00:56.760> if<00:00:57.360> you<00:00:57.539> are<00:00:58.100> if<00:00:59.100> you<00:00:59.460> have 00:00:59.569 --> 00:00:59.579 align:start position:0% crypto platform if you are if you have 00:00:59.579 --> 00:01:01.549 align:start position:0% crypto platform if you are if you have to<00:00:59.699> pay<00:00:59.879> any<00:01:00.239> taxes<00:01:00.600> on<00:01:00.780> the<00:01:00.960> gains<00:01:01.260> that<00:01:01.440> you 00:01:01.549 --> 00:01:01.559 align:start position:0% to pay any taxes on the gains that you 00:01:01.559 --> 00:01:04.729 align:start position:0% to pay any taxes on the gains that you make<00:01:01.680> from<00:01:01.920> your<00:01:02.039> Investments<00:01:03.059> or<00:01:03.899> if<00:01:04.260> you<00:01:04.500> run 00:01:04.729 --> 00:01:04.739 align:start position:0% make from your Investments or if you run 00:01:04.739 --> 00:01:06.289 align:start position:0% make from your Investments or if you run a<00:01:04.979> platform<00:01:05.280> I<00:01:05.580> don't<00:01:05.700> know<00:01:05.820> if<00:01:06.119> the 00:01:06.289 --> 00:01:06.299 align:start position:0% a platform I don't know if the 00:01:06.299 --> 00:01:09.050 align:start position:0% a platform I don't know if the representatives<00:01:07.080> of<00:01:07.439> the<00:01:07.619> the<00:01:07.740> exchanges<00:01:08.340> uh 00:01:09.050 --> 00:01:09.060 align:start position:0% representatives of the the exchanges uh 00:01:09.060 --> 00:01:11.330 align:start position:0% representatives of the the exchanges uh in<00:01:09.299> the<00:01:09.420> country<00:01:09.540> are<00:01:10.080> are<00:01:10.320> here<00:01:10.680> uh<00:01:11.040> we<00:01:11.280> would 00:01:11.330 --> 00:01:11.340 align:start position:0% in the country are are here uh we would 00:01:11.340 --> 00:01:14.690 align:start position:0% in the country are are here uh we would like<00:01:11.580> to<00:01:12.000> make<00:01:12.659> sure<00:01:12.960> that<00:01:13.500> you<00:01:13.860> know<00:01:14.040> exactly 00:01:14.690 --> 00:01:14.700 align:start position:0% like to make sure that you know exactly 00:01:14.700 --> 00:01:17.870 align:start position:0% like to make sure that you know exactly what<00:01:15.180> rules<00:01:15.600> you<00:01:15.960> have<00:01:16.200> to<00:01:16.380> to<00:01:16.680> follow<00:01:16.979> briefly 00:01:17.870 --> 00:01:17.880 align:start position:0% what rules you have to to follow briefly 00:01:17.880 --> 00:01:21.350 align:start position:0% what rules you have to to follow briefly speaking<00:01:18.360> even<00:01:18.840> though<00:01:19.400> crypto<00:01:20.400> is<00:01:20.759> no<00:01:20.939> it's 00:01:21.350 --> 00:01:21.360 align:start position:0% speaking even though crypto is no it's 00:01:21.360 --> 00:01:24.530 align:start position:0% speaking even though crypto is no it's not<00:01:21.600> legal<00:01:21.900> tender<00:01:22.140> in<00:01:22.560> Colombia<00:01:23.119> uh<00:01:24.119> it<00:01:24.420> is 00:01:24.530 --> 00:01:24.540 align:start position:0% not legal tender in Colombia uh it is 00:01:24.540 --> 00:01:27.350 align:start position:0% not legal tender in Colombia uh it is considered<00:01:25.200> for<00:01:25.439> tax<00:01:25.619> purposes<00:01:26.159> uh<00:01:27.000> and 00:01:27.350 --> 00:01:27.360 align:start position:0% considered for tax purposes uh and 00:01:27.360 --> 00:01:30.289 align:start position:0% considered for tax purposes uh and intangible<00:01:27.960> asset<00:01:28.500> which<00:01:29.460> uh<00:01:29.880> which 00:01:30.289 --> 00:01:30.299 align:start position:0% intangible asset which uh which 00:01:30.299 --> 00:01:32.450 align:start position:0% intangible asset which uh which basically<00:01:30.659> follows<00:01:31.140> the<00:01:31.560> the<00:01:31.680> the<00:01:31.920> treatment 00:01:32.450 --> 00:01:32.460 align:start position:0% basically follows the the the treatment 00:01:32.460 --> 00:01:35.210 align:start position:0% basically follows the the the treatment that<00:01:32.939> other<00:01:33.119> jurisdictions<00:01:33.780> give<00:01:34.320> to<00:01:34.740> to 00:01:35.210 --> 00:01:35.220 align:start position:0% that other jurisdictions give to to 00:01:35.220 --> 00:01:38.450 align:start position:0% that other jurisdictions give to to crypto<00:01:35.759> and<00:01:36.119> in<00:01:36.360> general<00:01:36.540> to<00:01:37.079> many<00:01:37.920> digital 00:01:38.450 --> 00:01:38.460 align:start position:0% crypto and in general to many digital 00:01:38.460 --> 00:01:42.350 align:start position:0% crypto and in general to many digital assets<00:01:38.880> in<00:01:39.540> Colombia<00:01:39.960> you<00:01:40.320> have<00:01:40.560> to 00:01:42.350 --> 00:01:42.360 align:start position:0% assets in Colombia you have to 00:01:42.360 --> 00:01:44.690 align:start position:0% assets in Colombia you have to um you<00:01:42.659> know<00:01:42.780> you<00:01:42.900> you<00:01:43.140> have<00:01:43.560> to<00:01:43.799> uh<00:01:44.220> fill<00:01:44.520> out 00:01:44.690 --> 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--> 00:01:56.700 align:start position:0% declare uh your net worth which is uh a 00:01:56.700 --> 00:01:58.190 align:start position:0% declare uh your net worth which is uh a very<00:01:56.880> particular<00:01:57.299> thing<00:01:57.479> to<00:01:57.659> the<00:01:57.840> Colombian 00:01:58.190 --> 00:01:58.200 align:start position:0% very particular thing to the Colombian 00:01:58.200 --> 00:02:01.149 align:start position:0% very particular thing to the Colombian tax<00:01:58.439> system<00:01:58.939> uh<00:01:59.939> many<00:02:00.180> of<00:02:00.360> you<00:02:00.540> guys<00:02:00.780> probably 00:02:01.149 --> 00:02:01.159 align:start position:0% tax system uh many of you guys probably 00:02:01.159 --> 00:02:05.149 align:start position:0% tax system uh many of you guys probably have<00:02:02.159> heard<00:02:03.000> the<00:02:03.479> debate<00:02:03.899> in<00:02:04.079> Congress<00:02:04.439> about 00:02:05.149 --> 00:02:05.159 align:start position:0% have heard the debate in Congress about 00:02:05.159 --> 00:02:08.449 align:start position:0% have heard the debate in Congress about a<00:02:05.759> taxation<00:02:06.299> of<00:02:06.780> your<00:02:07.079> net<00:02:07.320> worth<00:02:07.500> how<00:02:08.280> it's 00:02:08.449 --> 00:02:08.459 align:start position:0% a taxation of your net worth how it's 00:02:08.459 --> 00:02:11.809 align:start position:0% a taxation of your net worth how it's calculated<00:02:09.000> uh<00:02:09.899> and<00:02:10.200> so<00:02:10.440> just<00:02:10.920> you<00:02:11.220> know<00:02:11.340> just 00:02:11.809 --> 00:02:11.819 align:start position:0% calculated uh and so just you know just 00:02:11.819 --> 00:02:13.850 align:start position:0% calculated uh and so just you know just like<00:02:12.360> if<00:02:12.480> you're<00:02:12.780> curious<00:02:13.080> about<00:02:13.200> this<00:02:13.500> you 00:02:13.850 --> 00:02:13.860 align:start position:0% like if you're curious about this you 00:02:13.860 --> 00:02:16.790 align:start position:0% like if you're curious about this you you<00:02:13.980> would<00:02:14.220> basically<00:02:14.520> have<00:02:14.819> to<00:02:15.180> to<00:02:15.720> tell<00:02:16.080> uh 00:02:16.790 --> 00:02:16.800 align:start position:0% you would basically have to to tell uh 00:02:16.800 --> 00:02:19.910 align:start position:0% you would basically have to to tell uh us<00:02:17.160> to<00:02:17.459> tell<00:02:17.640> the<00:02:17.879> tax<00:02:18.300> administration<00:02:18.959> the 00:02:19.910 --> 00:02:19.920 align:start position:0% us to tell the tax administration the 00:02:19.920 --> 00:02:23.390 align:start position:0% us to tell the tax administration the value<00:02:20.340> of<00:02:20.879> the<00:02:21.239> crypto<00:02:21.599> at<00:02:22.319> the<00:02:22.680> the<00:02:22.739> passive 00:02:23.390 --> 00:02:23.400 align:start position:0% value of the crypto at the the passive 00:02:23.400 --> 00:02:26.330 align:start position:0% value of the crypto at the the passive value<00:02:23.640> that<00:02:24.060> you<00:02:24.180> acquired<00:02:24.660> it<00:02:24.840> on<00:02:25.739> on<00:02:25.980> the<00:02:26.220> day 00:02:26.330 --> 00:02:26.340 align:start position:0% value that you acquired it on on the day 00:02:26.340 --> 00:02:28.010 align:start position:0% value that you acquired it on on the day when<00:02:26.520> you<00:02:26.640> acquired<00:02:27.060> it<00:02:27.180> you<00:02:27.599> just<00:02:27.720> have<00:02:27.900> to 00:02:28.010 --> 00:02:28.020 align:start position:0% when you acquired it you just have to 00:02:28.020 --> 00:02:31.130 align:start position:0% when you acquired it you just have to tell<00:02:28.200> us<00:02:28.379> there's<00:02:28.739> currently<00:02:29.099> no<00:02:29.340> taxes<00:02:29.879> on<00:02:30.420> on 00:02:31.130 --> 00:02:31.140 align:start position:0% tell us there's currently no taxes on on 00:02:31.140 --> 00:02:33.050 align:start position:0% tell us there's currently no taxes on on your<00:02:31.379> net<00:02:31.560> worth<00:02:31.739> uh<00:02:32.280> there<00:02:32.459> have<00:02:32.640> been<00:02:32.760> in<00:02:32.940> the 00:02:33.050 --> 00:02:33.060 align:start position:0% your net worth uh there have been in the 00:02:33.060 --> 00:02:34.790 align:start position:0% your net worth uh there have been in the past<00:02:33.180> but<00:02:33.599> this<00:02:33.840> is<00:02:34.020> only<00:02:34.200> for<00:02:34.440> informational 00:02:34.790 --> 00:02:34.800 align:start position:0% past but this is only for informational 00:02:34.800 --> 00:02:37.610 align:start position:0% past but this is only for informational purposes<00:02:35.340> and<00:02:36.180> everything<00:02:36.599> else<00:02:36.959> is 00:02:37.610 --> 00:02:37.620 align:start position:0% purposes and everything else is 00:02:37.620 --> 00:02:40.970 align:start position:0% purposes and everything else is essentially<00:02:38.099> a<00:02:39.060> capital<00:02:39.360> gains<00:02:39.900> taxation<00:02:40.379> if 00:02:40.970 --> 00:02:40.980 align:start position:0% essentially a capital gains taxation if 00:02:40.980 --> 00:02:43.550 align:start position:0% essentially a capital gains taxation if you<00:02:41.220> so<00:02:41.400> if<00:02:41.580> you<00:02:41.700> if<00:02:41.879> you<00:02:42.060> buy<00:02:42.180> crypto<00:02:42.599> or<00:02:43.379> other 00:02:43.550 --> 00:02:43.560 align:start position:0% you so if you if you buy crypto or other 00:02:43.560 --> 00:02:46.369 align:start position:0% you so if you if you buy crypto or other assets<00:02:43.980> right<00:02:44.280> uh<00:02:44.580> if<00:02:44.760> you<00:02:44.879> buy<00:02:45.060> nnft<00:02:45.599> and<00:02:46.140> it 00:02:46.369 --> 00:02:46.379 align:start position:0% assets right uh if you buy nnft and it 00:02:46.379 --> 00:02:48.890 align:start position:0% assets right uh if you buy nnft and it increases<00:02:46.920> in<00:02:47.160> value<00:02:47.400> you<00:02:48.300> don't<00:02:48.480> have<00:02:48.599> to<00:02:48.780> pay 00:02:48.890 --> 00:02:48.900 align:start position:0% increases in value you don't have to pay 00:02:48.900 --> 00:02:52.369 align:start position:0% increases in value you don't have to pay any<00:02:49.140> taxes<00:02:49.620> until<00:02:50.160> the<00:02:50.519> moment<00:02:50.879> when<00:02:51.540> you<00:02:52.140> sell 00:02:52.369 --> 00:02:52.379 align:start position:0% any taxes until the moment when you sell 00:02:52.379 --> 00:02:55.430 align:start position:0% any taxes until the moment when you sell it<00:02:52.980> so<00:02:53.580> if<00:02:53.879> you<00:02:54.000> sell<00:02:54.180> it<00:02:54.420> you<00:02:54.780> make<00:02:54.900> money<00:02:55.140> on 00:02:55.430 --> 00:02:55.440 align:start position:0% it so if you sell it you make money on 00:02:55.440 --> 00:02:57.350 align:start position:0% it so if you sell it you make money on it<00:02:55.620> the<00:02:56.340> difference<00:02:56.580> between<00:02:56.879> the<00:02:57.180> price 00:02:57.350 --> 00:02:57.360 align:start position:0% it the difference between the price 00:02:57.360 --> 00:02:59.509 align:start position:0% it the difference between the price which<00:02:57.720> you<00:02:57.900> bought<00:02:58.080> it<00:02:58.260> and<00:02:58.620> the<00:02:58.800> price<00:02:59.160> that 00:02:59.509 --> 00:02:59.519 align:start position:0% which you bought it and the price that 00:02:59.519 --> 00:03:03.170 align:start position:0% which you bought it and the price that that<00:02:59.760> you<00:02:59.879> bought<00:03:00.060> for<00:03:00.239> it<00:03:00.420> uh<00:03:01.200> is<00:03:01.440> the<00:03:01.980> uh<00:03:02.940> is 00:03:03.170 --> 00:03:03.180 align:start position:0% that you bought for it uh is the uh is 00:03:03.180 --> 00:03:05.330 align:start position:0% that you bought for it uh is the uh is the<00:03:03.420> basis<00:03:03.720> on<00:03:03.900> which<00:03:04.080> you<00:03:04.260> have<00:03:04.440> to<00:03:04.680> pay<00:03:04.980> a 00:03:05.330 --> 00:03:05.340 align:start position:0% the basis on which you have to pay a 00:03:05.340 --> 00:03:08.330 align:start position:0% the basis on which you have to pay a rate<00:03:05.700> that<00:03:06.599> rate<00:03:06.780> will<00:03:07.080> depend<00:03:07.440> on<00:03:07.980> whether 00:03:08.330 --> 00:03:08.340 align:start position:0% rate that rate will depend on whether 00:03:08.340 --> 00:03:12.589 align:start position:0% rate that rate will depend on whether you<00:03:08.580> have<00:03:08.700> held<00:03:09.180> the<00:03:09.300> the<00:03:10.019> assets<00:03:10.560> for<00:03:11.360> uh<00:03:12.360> two 00:03:12.589 --> 00:03:12.599 align:start position:0% you have held the the assets for uh two 00:03:12.599 --> 00:03:15.350 align:start position:0% you have held the the assets for uh two years<00:03:12.840> uh<00:03:13.560> or<00:03:13.920> or<00:03:14.220> more<00:03:14.519> if<00:03:14.819> you<00:03:14.879> have<00:03:15.000> held 00:03:15.350 --> 00:03:15.360 align:start position:0% years uh or or more if you have held 00:03:15.360 --> 00:03:18.050 align:start position:0% years uh or or more if you have held them<00:03:15.480> for<00:03:15.720> more<00:03:15.959> than<00:03:16.080> two<00:03:16.200> years<00:03:16.440> this<00:03:17.400> is<00:03:17.580> the 00:03:18.050 --> 00:03:18.060 align:start position:0% them for more than two years this is the 00:03:18.060 --> 00:03:20.270 align:start position:0% them for more than two years this is the roughly<00:03:18.780> speaking<00:03:19.080> the<00:03:19.260> capital<00:03:19.560> gains<00:03:20.099> tax 00:03:20.270 --> 00:03:20.280 align:start position:0% roughly speaking the capital gains tax 00:03:20.280 --> 00:03:25.009 align:start position:0% roughly speaking the capital gains tax it's<00:03:20.640> called<00:03:20.940> Uh<00:03:21.360> ganancies<00:03:22.280> in<00:03:23.280> in<00:03:23.459> Colombia 00:03:25.009 --> 00:03:25.019 align:start position:0% it's called Uh ganancies in in Colombia 00:03:25.019 --> 00:03:28.130 align:start position:0% it's called Uh ganancies in in Colombia um<00:03:25.140> it's<00:03:25.620> currently<00:03:25.920> a<00:03:26.099> 10<00:03:26.280> tax<00:03:27.000> rate<00:03:27.239> if<00:03:27.720> the 00:03:28.130 --> 00:03:28.140 align:start position:0% um it's currently a 10 tax rate if the 00:03:28.140 --> 00:03:30.170 align:start position:0% um it's currently a 10 tax rate if the tax<00:03:28.560> reform<00:03:28.980> bill<00:03:29.220> that<00:03:29.580> we're<00:03:29.700> working<00:03:29.940> on 00:03:30.170 --> 00:03:30.180 align:start position:0% tax reform bill that we're working on 00:03:30.180 --> 00:03:34.550 align:start position:0% tax reform bill that we're working on goes<00:03:31.140> through<00:03:31.319> it<00:03:31.980> will<00:03:32.220> be<00:03:32.459> at<00:03:32.940> 15<00:03:33.319> of<00:03:34.319> the<00:03:34.440> the 00:03:34.550 --> 00:03:34.560 align:start position:0% goes through it will be at 15 of the the 00:03:34.560 --> 00:03:36.110 align:start position:0% goes through it will be at 15 of the the appreciation 00:03:36.110 --> 00:03:36.120 align:start position:0% appreciation 00:03:36.120 --> 00:03:39.649 align:start position:0% appreciation uh<00:03:36.959> if<00:03:37.260> you<00:03:37.500> sell<00:03:37.620> the<00:03:37.920> asset<00:03:38.340> before<00:03:38.879> two 00:03:39.649 --> 00:03:39.659 align:start position:0% uh if you sell the asset before two 00:03:39.659 --> 00:03:41.390 align:start position:0% uh if you sell the asset before two years<00:03:39.840> then<00:03:40.260> you<00:03:40.440> just<00:03:40.560> have<00:03:40.680> to<00:03:40.860> pay<00:03:40.980> the<00:03:41.220> the 00:03:41.390 --> 00:03:41.400 align:start position:0% years then you just have to pay the the 00:03:41.400 --> 00:03:44.030 align:start position:0% years then you just have to pay the the ordinary<00:03:42.000> rate<00:03:42.360> which<00:03:42.780> is<00:03:42.900> a<00:03:43.140> progressive<00:03:43.680> uh 00:03:44.030 --> 00:03:44.040 align:start position:0% ordinary rate which is a progressive uh 00:03:44.040 --> 00:03:47.930 align:start position:0% ordinary rate which is a progressive uh taxation<00:03:44.940> scheme<00:03:45.480> it<00:03:45.659> starts<00:03:46.019> at<00:03:46.140> 19<00:03:46.700> uh<00:03:47.700> at 00:03:47.930 --> 00:03:47.940 align:start position:0% taxation scheme it starts at 19 uh at 00:03:47.940 --> 00:03:49.670 align:start position:0% taxation scheme it starts at 19 uh at very<00:03:48.299> high<00:03:48.480> levels<00:03:48.780> of<00:03:48.900> income<00:03:49.140> it<00:03:49.260> goes<00:03:49.560> all 00:03:49.670 --> 00:03:49.680 align:start position:0% very high levels of income it goes all 00:03:49.680 --> 00:03:51.289 align:start position:0% very high levels of income it goes all the<00:03:49.860> way<00:03:49.920> up<00:03:50.159> to 00:03:51.289 --> 00:03:51.299 align:start position:0% the way up to 00:03:51.299 --> 00:03:55.729 align:start position:0% the way up to uh<00:03:52.019> 39<00:03:52.700> uh<00:03:53.700> which<00:03:54.120> is<00:03:54.299> much<00:03:54.599> like<00:03:54.959> what<00:03:55.500> you 00:03:55.729 --> 00:03:55.739 align:start position:0% uh 39 uh which is much like what you 00:03:55.739 --> 00:03:57.949 align:start position:0% uh 39 uh which is much like what you would<00:03:55.920> pay<00:03:56.099> in<00:03:56.340> in<00:03:56.580> the<00:03:56.760> United<00:03:56.879> States<00:03:57.239> for<00:03:57.659> uh 00:03:57.949 --> 00:03:57.959 align:start position:0% would pay in in the United States for uh 00:03:57.959 --> 00:04:00.410 align:start position:0% would pay in in the United States for uh ordinary<00:03:58.440> income<00:03:58.799> as<00:03:59.040> well<00:03:59.220> you<00:04:00.000> may<00:04:00.239> have 00:04:00.410 --> 00:04:00.420 align:start position:0% ordinary income as well you may have 00:04:00.420 --> 00:04:03.289 align:start position:0% ordinary income as well you may have wondered<00:04:00.840> uh<00:04:01.260> I<00:04:01.440> know<00:04:01.560> because<00:04:01.860> I<00:04:02.340> have<00:04:02.459> uh<00:04:03.000> if 00:04:03.289 --> 00:04:03.299 align:start position:0% wondered uh I know because I have uh if 00:04:03.299 --> 00:04:05.809 align:start position:0% wondered uh I know because I have uh if uh<00:04:03.659> if<00:04:04.080> you're<00:04:04.140> in<00:04:04.319> an<00:04:04.440> exchange<00:04:04.799> and<00:04:05.340> you<00:04:05.519> buy 00:04:05.809 --> 00:04:05.819 align:start position:0% uh if you're in an exchange and you buy 00:04:05.819 --> 00:04:07.789 align:start position:0% uh if you're in an exchange and you buy and<00:04:06.000> sell<00:04:06.180> crypto<00:04:06.659> right<00:04:06.959> maybe<00:04:07.140> you're<00:04:07.440> just 00:04:07.789 --> 00:04:07.799 align:start position:0% and sell crypto right maybe you're just 00:04:07.799 --> 00:04:11.030 align:start position:0% and sell crypto right maybe you're just playing<00:04:08.400> around<00:04:08.640> with<00:04:09.239> uh<00:04:09.659> uh<00:04:10.500> any<00:04:10.739> type<00:04:10.920> of 00:04:11.030 --> 00:04:11.040 align:start position:0% playing around with uh uh any type of 00:04:11.040 --> 00:04:14.330 align:start position:0% playing around with uh uh any type of cryptocurrency<00:04:11.700> you've<00:04:12.180> made<00:04:12.420> uh<00:04:13.159> and<00:04:14.159> you 00:04:14.330 --> 00:04:14.340 align:start position:0% cryptocurrency you've made uh and you 00:04:14.340 --> 00:04:16.250 align:start position:0% cryptocurrency you've made uh and you sell<00:04:14.519> it<00:04:14.760> to<00:04:14.879> someone<00:04:15.060> right<00:04:15.480> and<00:04:15.720> if<00:04:15.900> you<00:04:16.019> if 00:04:16.250 --> 00:04:16.260 align:start position:0% sell it to someone right and if you if 00:04:16.260 --> 00:04:19.189 align:start position:0% sell it to someone right and if you if you<00:04:16.440> like<00:04:16.620> to<00:04:16.739> think<00:04:16.979> about<00:04:17.639> tax<00:04:18.239> issues<00:04:18.780> which 00:04:19.189 --> 00:04:19.199 align:start position:0% you like to think about tax issues which 00:04:19.199 --> 00:04:21.830 align:start position:0% you like to think about tax issues which some<00:04:19.739> people<00:04:19.859> do<00:04:20.160> you<00:04:20.820> may<00:04:20.940> Wonder<00:04:21.120> does<00:04:21.660> this 00:04:21.830 --> 00:04:21.840 align:start position:0% some people do you may Wonder does this 00:04:21.840 --> 00:04:24.350 align:start position:0% some people do you may Wonder does this pay<00:04:22.019> vat<00:04:22.440> though<00:04:22.860> the<00:04:23.040> value-added<00:04:23.759> tax<00:04:23.940> uh 00:04:24.350 --> 00:04:24.360 align:start position:0% pay vat though the value-added tax uh 00:04:24.360 --> 00:04:28.430 align:start position:0% pay vat though the value-added tax uh Eva<00:04:24.900> in<00:04:25.139> Spanish<00:04:25.820> there<00:04:26.820> are<00:04:27.080> activities<00:04:28.080> such 00:04:28.430 --> 00:04:28.440 align:start position:0% Eva in Spanish there are activities such 00:04:28.440 --> 00:04:31.790 align:start position:0% Eva in Spanish there are activities such as<00:04:28.560> exchanges<00:04:29.100> that<00:04:29.340> are<00:04:29.460> that<00:04:29.699> do<00:04:29.940> not<00:04:30.120> pay<00:04:30.800> uh 00:04:31.790 --> 00:04:31.800 align:start position:0% as exchanges that are that do not pay uh 00:04:31.800 --> 00:04:35.629 align:start position:0% as exchanges that are that do not pay uh vat<00:04:32.220> uh<00:04:33.000> it<00:04:33.180> so<00:04:33.660> when<00:04:34.020> it<00:04:34.380> comes<00:04:34.620> to<00:04:34.860> intangible 00:04:35.629 --> 00:04:35.639 align:start position:0% vat uh it so when it comes to intangible 00:04:35.639 --> 00:04:40.430 align:start position:0% vat uh it so when it comes to intangible assets<00:04:36.259> uh<00:04:37.259> like<00:04:37.620> uh<00:04:37.919> like<00:04:38.220> crypto<00:04:38.639> then 00:04:40.430 --> 00:04:40.440 align:start position:0% assets uh like uh like crypto then 00:04:40.440 --> 00:04:43.670 align:start position:0% assets uh like uh like crypto then as<00:04:41.160> long<00:04:41.340> as<00:04:41.460> they<00:04:41.699> don't<00:04:41.940> have<00:04:42.240> uh<00:04:42.900> an 00:04:43.670 --> 00:04:43.680 align:start position:0% as long as they don't have uh an 00:04:43.680 --> 00:04:47.390 align:start position:0% as long as they don't have uh an intellectual<00:04:44.340> commercial<00:04:45.259> industrial<00:04:46.400> value 00:04:47.390 --> 00:04:47.400 align:start position:0% intellectual commercial industrial value 00:04:47.400 --> 00:04:50.450 align:start position:0% intellectual commercial industrial value so<00:04:48.000> this<00:04:48.120> is<00:04:48.300> more<00:04:48.419> like<00:04:48.600> patents<00:04:49.320> right<00:04:49.620> like 00:04:50.450 --> 00:04:50.460 align:start position:0% so this is more like patents right like 00:04:50.460 --> 00:04:52.610 align:start position:0% so this is more like patents right like if<00:04:50.699> they<00:04:50.880> don't<00:04:51.060> have<00:04:51.240> that<00:04:51.540> that<00:04:51.780> added<00:04:52.380> value 00:04:52.610 --> 00:04:52.620 align:start position:0% if they don't have that that added value 00:04:52.620 --> 00:04:55.189 align:start position:0% if they don't have that that added value then<00:04:53.220> you're<00:04:53.759> not<00:04:53.940> responsible<00:04:54.419> for<00:04:54.840> paying 00:04:55.189 --> 00:04:55.199 align:start position:0% then you're not responsible for paying 00:04:55.199 --> 00:04:59.570 align:start position:0% then you're not responsible for paying vat<00:04:56.000> uh<00:04:57.000> however<00:04:57.419> if<00:04:57.960> you're<00:04:58.139> selling<00:04:58.620> say 00:04:59.570 --> 00:04:59.580 align:start position:0% vat uh however if you're selling say 00:04:59.580 --> 00:05:03.890 align:start position:0% vat uh however if you're selling say uh<00:05:00.300> at<00:05:00.419> least<00:05:00.540> some<00:05:00.900> sort<00:05:01.080> of<00:05:01.259> of<00:05:01.919> nfts<00:05:02.900> there 00:05:03.890 --> 00:05:03.900 align:start position:0% uh at least some sort of of nfts there 00:05:03.900 --> 00:05:07.670 align:start position:0% uh at least some sort of of nfts there may<00:05:04.080> be<00:05:04.199> vat<00:05:04.740> to<00:05:05.220> be<00:05:05.759> be<00:05:06.000> paid<00:05:06.300> so<00:05:07.080> especially 00:05:07.670 --> 00:05:07.680 align:start position:0% may be vat to be be paid so especially 00:05:07.680 --> 00:05:09.110 align:start position:0% may be vat to be be paid so especially if<00:05:07.979> you're<00:05:08.160> thinking<00:05:08.400> of<00:05:08.520> running<00:05:08.699> a<00:05:09.000> business 00:05:09.110 --> 00:05:09.120 align:start position:0% if you're thinking of running a business 00:05:09.120 --> 00:05:12.530 align:start position:0% if you're thinking of running a business that<00:05:10.020> operates<00:05:10.740> buying<00:05:11.220> and<00:05:11.340> selling<00:05:11.759> uh 00:05:12.530 --> 00:05:12.540 align:start position:0% that operates buying and selling uh 00:05:12.540 --> 00:05:16.670 align:start position:0% that operates buying and selling uh crypto<00:05:12.960> nfts<00:05:13.919> other<00:05:14.220> types<00:05:14.580> of<00:05:14.759> uh<00:05:15.680> digital 00:05:16.670 --> 00:05:16.680 align:start position:0% crypto nfts other types of uh digital 00:05:16.680 --> 00:05:18.409 align:start position:0% crypto nfts other types of uh digital assets<00:05:17.160> these<00:05:17.759> are<00:05:17.880> things<00:05:18.000> that<00:05:18.180> you<00:05:18.300> may 00:05:18.409 --> 00:05:18.419 align:start position:0% assets these are things that you may 00:05:18.419 --> 00:05:21.469 align:start position:0% assets these are things that you may want<00:05:18.600> to<00:05:18.720> take<00:05:18.900> into<00:05:19.020> account<00:05:19.580> and<00:05:20.580> we<00:05:21.060> want<00:05:21.300> to 00:05:21.469 --> 00:05:21.479 align:start position:0% want to take into account and we want to 00:05:21.479 --> 00:05:24.890 align:start position:0% want to take into account and we want to make<00:05:22.020> this<00:05:22.440> easy<00:05:23.100> for<00:05:23.759> those<00:05:24.120> paying<00:05:24.539> taxes 00:05:24.890 --> 00:05:24.900 align:start position:0% make this easy for those paying taxes 00:05:24.900 --> 00:05:26.749 align:start position:0% make this easy for those paying taxes right<00:05:25.259> you<00:05:25.740> have<00:05:25.800> to<00:05:25.919> pay<00:05:26.039> them<00:05:26.220> the<00:05:26.520> least<00:05:26.580> we 00:05:26.749 --> 00:05:26.759 align:start position:0% right you have to pay them the least we 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position:0% given instructions to uh the the the the 00:05:37.940 --> 00:05:42.409 align:start position:0% given instructions to uh the the the the subdirectorate<00:05:38.940> in<00:05:39.180> charge<00:05:39.360> of<00:05:40.340> uh<00:05:41.340> Norms<00:05:42.000> you 00:05:42.409 --> 00:05:42.419 align:start position:0% subdirectorate in charge of uh Norms you 00:05:42.419 --> 00:05:45.230 align:start position:0% subdirectorate in charge of uh Norms you know<00:05:42.479> interpreting<00:05:42.960> the<00:05:43.259> the<00:05:43.440> tax<00:05:43.860> norms<00:05:44.460> for 00:05:45.230 --> 00:05:45.240 align:start position:0% know interpreting the the tax norms for 00:05:45.240 --> 00:05:48.290 align:start position:0% know interpreting the the tax norms for specific<00:05:45.960> cases<00:05:46.440> in<00:05:46.620> specific<00:05:46.919> Industries<00:05:47.400> to 00:05:48.290 --> 00:05:48.300 align:start position:0% specific cases in specific Industries to 00:05:48.300 --> 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align:start position:0% and uh but also we are here to collect the<00:06:00.180> questions<00:06:00.419> that<00:06:00.960> you<00:06:01.139> may<00:06:01.320> have<00:06:01.940> and<00:06:02.940> we 00:06:03.230 --> 00:06:03.240 align:start position:0% the questions that you may have and we 00:06:03.240 --> 00:06:07.249 align:start position:0% the questions that you may have and we want<00:06:03.479> to<00:06:03.800> issue<00:06:04.800> an<00:06:05.280> official<00:06:05.639> concept<00:06:06.259> about 00:06:07.249 --> 00:06:07.259 align:start position:0% want to issue an official concept about 00:06:07.259 --> 00:06:11.749 align:start position:0% want to issue an official concept about this<00:06:07.800> we<00:06:08.759> want<00:06:09.060> to<00:06:09.240> do<00:06:09.539> this<00:06:10.100> both<00:06:11.100> in<00:06:11.280> Spanish 00:06:11.749 --> 00:06:11.759 align:start position:0% this we want to do this both in Spanish 00:06:11.759 --> 00:06:16.310 align:start position:0% this we want to do this both in Spanish and<00:06:12.479> in<00:06:12.840> English<00:06:13.080> we<00:06:13.680> want<00:06:13.919> to<00:06:14.280> have<00:06:15.180> a<00:06:15.539> clear 00:06:16.310 --> 00:06:16.320 align:start position:0% and in English we want to have a clear 00:06:16.320 --> 00:06:19.070 align:start position:0% and in English we want to have a clear rules<00:06:16.919> for<00:06:17.220> those<00:06:17.520> coming<00:06:17.820> from<00:06:18.180> abroad<00:06:18.660> to<00:06:18.840> to 00:06:19.070 --> 00:06:19.080 align:start position:0% rules for those coming from abroad to to 00:06:19.080 --> 00:06:23.570 align:start position:0% rules for those coming from abroad to to invest<00:06:19.699> and<00:06:20.960> even<00:06:21.960> though<00:06:22.380> uh<00:06:23.039> I<00:06:23.280> think<00:06:23.340> we're 00:06:23.570 --> 00:06:23.580 align:start position:0% invest and even though uh I think we're 00:06:23.580 --> 00:06:26.510 align:start position:0% invest and even though uh I think we're all<00:06:23.759> excited<00:06:24.240> for<00:06:24.600> the<00:06:25.020> uh<00:06:25.259> for<00:06:25.979> the<00:06:26.100> closing 00:06:26.510 --> 00:06:26.520 align:start position:0% all excited for the uh for the closing 00:06:26.520 --> 00:06:30.170 align:start position:0% all excited for the uh for the closing event<00:06:26.639> at<00:06:26.940> 3<00:06:27.360> 30.<00:06:27.840> uh<00:06:28.560> we<00:06:29.039> are<00:06:29.220> here<00:06:29.520> to<00:06:29.759> to<00:06:30.000> take 00:06:30.170 --> 00:06:30.180 align:start position:0% event at 3 30. uh we are here to to take 00:06:30.180 --> 00:06:34.309 align:start position:0% event at 3 30. uh we are here to to take questions<00:06:30.479> uh<00:06:31.380> uh<00:06:32.340> yeah<00:06:32.520> sure<00:06:33.199> so<00:06:34.199> you're 00:06:34.309 --> 00:06:34.319 align:start position:0% questions uh uh yeah sure so you're 00:06:34.319 --> 00:06:35.950 align:start position:0% questions uh uh yeah sure so you're mentioning<00:06:34.860> that<00:06:34.979> we<00:06:35.160> would<00:06:35.280> have<00:06:35.460> to<00:06:35.580> pay 00:06:35.950 --> 00:06:35.960 align:start position:0% mentioning that we would have to pay 00:06:35.960 --> 00:06:39.529 align:start position:0% mentioning that we would have to pay taxes<00:06:36.960> if<00:06:37.380> I<00:06:37.800> you<00:06:38.280> know<00:06:38.400> purchase<00:06:38.940> a<00:06:39.060> Bitcoin 00:06:39.529 --> 00:06:39.539 align:start position:0% taxes if I you know purchase a Bitcoin 00:06:39.539 --> 00:06:41.270 align:start position:0% taxes if I you know purchase a Bitcoin let's<00:06:39.780> say<00:06:39.900> it<00:06:40.020> goes<00:06:40.199> up<00:06:40.259> in<00:06:40.440> price<00:06:40.620> and<00:06:41.100> then 00:06:41.270 --> 00:06:41.280 align:start position:0% let's say it goes up in price and then 00:06:41.280 --> 00:06:44.210 align:start position:0% let's say it goes up in price and then sell<00:06:41.880> it<00:06:42.120> for<00:06:42.300> fiat<00:06:42.720> currency<00:06:43.020> but<00:06:43.919> if<00:06:44.039> I<00:06:44.160> were 00:06:44.210 --> 00:06:44.220 align:start position:0% sell it for fiat currency but if I were 00:06:44.220 --> 00:06:46.790 align:start position:0% sell it for fiat currency but if I were to<00:06:44.340> buy<00:06:44.520> a<00:06:44.699> Bitcoin<00:06:45.180> and<00:06:45.539> then<00:06:45.720> swap<00:06:46.199> it<00:06:46.380> to 00:06:46.790 --> 00:06:46.800 align:start position:0% to buy a Bitcoin and then swap it to 00:06:46.800 --> 00:06:48.529 align:start position:0% to buy a Bitcoin and then swap it to another<00:06:47.100> currency<00:06:47.580> another<00:06:48.120> digital 00:06:48.529 --> 00:06:48.539 align:start position:0% another currency another digital 00:06:48.539 --> 00:06:50.990 align:start position:0% another currency another digital currency<00:06:48.840> let's<00:06:49.139> say<00:06:49.259> ethereum<00:06:49.819> and<00:06:50.819> the 00:06:50.990 --> 00:06:51.000 align:start position:0% currency let's say ethereum and the 00:06:51.000 --> 00:06:54.290 align:start position:0% currency let's say ethereum and the price<00:06:51.240> was<00:06:51.800> well<00:06:52.800> technically<00:06:53.699> created<00:06:54.060> a 00:06:54.290 --> 00:06:54.300 align:start position:0% price was well technically created a 00:06:54.300 --> 00:06:57.469 align:start position:0% price was well technically created a taxable<00:06:54.840> game<00:06:55.259> how<00:06:56.100> would<00:06:56.280> I<00:06:56.460> pay<00:06:56.819> that<00:06:57.300> tax 00:06:57.469 --> 00:06:57.479 align:start position:0% taxable game how would I pay that tax 00:06:57.479 --> 00:07:00.590 align:start position:0% taxable game how would I pay that tax would<00:06:57.720> I<00:06:57.900> pay<00:06:58.080> it<00:06:58.259> in<00:06:59.220> the<00:06:59.340> value<00:06:59.580> of<00:07:00.240> the<00:07:00.479> local 00:07:00.590 --> 00:07:00.600 align:start position:0% would I pay it in the value of the local 00:07:00.600 --> 00:07:03.350 align:start position:0% would I pay it in the value of the local fiat<00:07:01.020> currency<00:07:01.380> would<00:07:01.860> I<00:07:02.100> pay<00:07:02.220> it<00:07:02.460> in<00:07:02.940> one<00:07:03.180> or 00:07:03.350 --> 00:07:03.360 align:start position:0% fiat currency would I pay it in one or 00:07:03.360 --> 00:07:06.050 align:start position:0% fiat currency would I pay it in one or the<00:07:03.539> other<00:07:03.919> intangible<00:07:04.919> ads<00:07:05.340> assets<00:07:05.639> how<00:07:05.880> how 00:07:06.050 --> 00:07:06.060 align:start position:0% the other intangible ads assets how how 00:07:06.060 --> 00:07:07.610 align:start position:0% the other intangible ads assets how how would<00:07:06.180> you<00:07:06.300> do<00:07:06.419> that<00:07:06.539> that's<00:07:07.199> a<00:07:07.440> great 00:07:07.610 --> 00:07:07.620 align:start position:0% would you do that that's a great 00:07:07.620 --> 00:07:08.870 align:start position:0% would you do that that's a great question 00:07:08.870 --> 00:07:08.880 align:start position:0% question 00:07:08.880 --> 00:07:12.409 align:start position:0% question um<00:07:08.940> because<00:07:09.660> currently<00:07:10.500> uh<00:07:11.220> ether<00:07:11.940> and<00:07:12.240> then 00:07:12.409 --> 00:07:12.419 align:start position:0% um because currently uh ether and then 00:07:12.419 --> 00:07:14.749 align:start position:0% um because currently uh ether and then at<00:07:12.840> Bitcoin<00:07:13.259> are<00:07:13.500> not<00:07:13.740> currently<00:07:14.100> considered 00:07:14.749 --> 00:07:14.759 align:start position:0% at Bitcoin are not currently considered 00:07:14.759 --> 00:07:17.450 align:start position:0% at Bitcoin are not currently considered uh<00:07:15.360> currency<00:07:15.780> in<00:07:16.020> Colombia<00:07:16.560> uh<00:07:17.100> and<00:07:17.280> you're 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uh the time you<00:07:25.319> sold<00:07:25.620> the<00:07:26.160> uh<00:07:26.340> in<00:07:26.639> your<00:07:26.880> example<00:07:27.240> the 00:07:27.469 --> 00:07:27.479 align:start position:0% you sold the uh in your example the 00:07:27.479 --> 00:07:29.570 align:start position:0% you sold the uh in your example the ethereum<00:07:27.900> for<00:07:28.139> Fiat 00:07:29.570 --> 00:07:29.580 align:start position:0% ethereum for Fiat 00:07:29.580 --> 00:07:32.330 align:start position:0% ethereum for Fiat um<00:07:29.699> and<00:07:30.419> then<00:07:30.599> I<00:07:30.780> think<00:07:31.259> that<00:07:31.500> also<00:07:31.800> raises<00:07:32.220> the 00:07:32.330 --> 00:07:32.340 align:start position:0% um and then I think that also raises the 00:07:32.340 --> 00:07:35.210 align:start position:0% um and then I think that also raises the question<00:07:32.520> of<00:07:32.819> what<00:07:33.120> do<00:07:33.300> you<00:07:33.419> do<00:07:33.599> if<00:07:34.080> you<00:07:34.440> uh<00:07:35.039> if 00:07:35.210 --> 00:07:35.220 align:start position:0% question of what do you do if you uh if 00:07:35.220 --> 00:07:37.249 align:start position:0% question of what do you do if you uh if you<00:07:35.400> buy<00:07:35.580> something<00:07:35.880> in<00:07:36.180> crypto<00:07:36.599> right<00:07:37.020> like 00:07:37.249 --> 00:07:37.259 align:start position:0% you buy something in crypto right like 00:07:37.259 --> 00:07:39.469 align:start position:0% you buy something in crypto right like if<00:07:37.380> you<00:07:37.500> if<00:07:37.680> you<00:07:37.860> buy<00:07:37.979> a<00:07:38.160> house<00:07:38.280> in<00:07:38.580> crypto<00:07:39.000> like 00:07:39.469 --> 00:07:39.479 align:start position:0% if you if you buy a house in crypto like 00:07:39.479 --> 00:07:42.290 align:start position:0% if you if you buy a house in crypto like what<00:07:39.720> would<00:07:40.020> you<00:07:40.199> do<00:07:40.740> how<00:07:41.039> does<00:07:41.220> it<00:07:41.400> work<00:07:41.639> uh 00:07:42.290 --> 00:07:42.300 align:start position:0% what would you do how does it work uh 00:07:42.300 --> 00:07:44.150 align:start position:0% what would you do how does it work uh and<00:07:42.479> then<00:07:42.660> in<00:07:42.900> in<00:07:43.139> that<00:07:43.319> case<00:07:43.500> you<00:07:43.860> would<00:07:44.039> have 00:07:44.150 --> 00:07:44.160 align:start position:0% and then in in that case you would have 00:07:44.160 --> 00:07:46.969 align:start position:0% and then in in that case you would have to<00:07:44.280> take<00:07:44.400> into<00:07:44.580> account<00:07:44.880> the<00:07:45.240> the<00:07:45.539> value<00:07:45.979> at 00:07:46.969 --> 00:07:46.979 align:start position:0% to take into account the the value at 00:07:46.979 --> 00:07:50.570 align:start position:0% to take into account the the value at which<00:07:47.580> uh<00:07:48.060> that<00:07:48.479> that<00:07:48.840> house<00:07:49.139> uh<00:07:49.740> is<00:07:50.039> fairly 00:07:50.570 --> 00:07:50.580 align:start position:0% which uh that that house uh is fairly 00:07:50.580 --> 00:07:54.230 align:start position:0% which uh that that house uh is fairly valued<00:07:51.240> and<00:07:51.840> the<00:07:52.020> value<00:07:52.620> of<00:07:52.919> uh<00:07:53.220> of<00:07:53.759> your<00:07:53.880> asset 00:07:54.230 --> 00:07:54.240 align:start position:0% valued and the value of uh of your asset 00:07:54.240 --> 00:07:55.909 align:start position:0% valued and the value of uh of your asset and<00:07:54.419> then<00:07:54.599> that<00:07:54.900> difference<00:07:55.139> would<00:07:55.620> be<00:07:55.740> the 00:07:55.909 --> 00:07:55.919 align:start position:0% and then that difference would be the 00:07:55.919 --> 00:07:57.830 align:start position:0% and then that difference would be the basis<00:07:56.280> for<00:07:56.580> for<00:07:56.819> taxation 00:07:57.830 --> 00:07:57.840 align:start position:0% basis for for taxation 00:07:57.840 --> 00:07:59.450 align:start position:0% basis for for taxation so<00:07:58.259> you<00:07:58.440> never<00:07:58.560> specified<00:07:58.919> whether<00:07:59.160> for 00:07:59.450 --> 00:07:59.460 align:start position:0% so you never specified whether for 00:07:59.460 --> 00:08:02.089 align:start position:0% so you never specified whether for whether<00:07:59.880> it<00:08:00.120> was<00:08:00.240> first<00:08:00.660> in<00:08:00.900> first<00:08:01.139> out<00:08:01.500> which 00:08:02.089 --> 00:08:02.099 align:start position:0% whether it was first in first out which 00:08:02.099 --> 00:08:05.570 align:start position:0% whether it was first in first out which is<00:08:02.639> if<00:08:03.060> I<00:08:03.240> had<00:08:03.360> bought<00:08:03.479> Bitcoin<00:08:04.039> and<00:08:05.039> maybe<00:08:05.340> I 00:08:05.570 --> 00:08:05.580 align:start position:0% is if I had bought Bitcoin and maybe I 00:08:05.580 --> 00:08:07.249 align:start position:0% is if I had bought Bitcoin and maybe I put<00:08:05.759> it<00:08:05.819> off<00:08:06.000> to<00:08:06.180> the<00:08:06.300> side<00:08:06.479> for<00:08:06.780> long-term 00:08:07.249 --> 00:08:07.259 align:start position:0% put it off to the side for long-term 00:08:07.259 --> 00:08:09.650 align:start position:0% put it off to the side for long-term storage<00:08:07.500> or<00:08:07.800> ethereum<00:08:08.220> whichever<00:08:08.520> asset<00:08:09.000> and 00:08:09.650 --> 00:08:09.660 align:start position:0% storage or ethereum whichever asset and 00:08:09.660 --> 00:08:11.629 align:start position:0% storage or ethereum whichever asset and then<00:08:09.780> later<00:08:10.020> I<00:08:10.380> start<00:08:10.500> trading<00:08:11.039> with<00:08:11.340> other 00:08:11.629 --> 00:08:11.639 align:start position:0% then later I start trading with other 00:08:11.639 --> 00:08:15.170 align:start position:0% then later I start trading with other assets<00:08:11.940> over<00:08:12.240> here<00:08:12.500> so<00:08:13.500> first<00:08:14.400> in<00:08:14.639> first<00:08:14.819> out 00:08:15.170 --> 00:08:15.180 align:start position:0% assets over here so first in first out 00:08:15.180 --> 00:08:17.629 align:start position:0% assets over here so first in first out would<00:08:15.479> say<00:08:15.720> that<00:08:16.080> the<00:08:16.800> very<00:08:16.919> first<00:08:17.160> purchase 00:08:17.629 --> 00:08:17.639 align:start position:0% would say that the very first purchase 00:08:17.639 --> 00:08:22.070 align:start position:0% would say that the very first purchase of<00:08:18.180> the<00:08:18.900> asset<00:08:19.340> ethereum<00:08:20.340> let's<00:08:20.520> say<00:08:20.759> was<00:08:21.599> at<00:08:21.960> a 00:08:22.070 --> 00:08:22.080 align:start position:0% of the asset ethereum let's say was at a 00:08:22.080 --> 00:08:23.930 align:start position:0% of the asset ethereum let's say was at a hundred<00:08:22.319> dollars<00:08:22.560> and<00:08:22.860> now<00:08:23.039> it's<00:08:23.280> at<00:08:23.460> fifteen 00:08:23.930 --> 00:08:23.940 align:start position:0% hundred dollars and now it's at fifteen 00:08:23.940 --> 00:08:25.850 align:start position:0% hundred dollars and now it's at fifteen hundred<00:08:24.180> dollars<00:08:24.360> it<00:08:25.139> doesn't<00:08:25.319> matter<00:08:25.560> my 00:08:25.850 --> 00:08:25.860 align:start position:0% hundred dollars it doesn't matter my 00:08:25.860 --> 00:08:28.010 align:start position:0% hundred dollars it doesn't matter my trades<00:08:26.160> over<00:08:26.280> here<00:08:26.460> it's<00:08:26.759> first<00:08:27.180> in<00:08:27.419> first<00:08:27.720> out 00:08:28.010 --> 00:08:28.020 align:start position:0% trades over here it's first in first out 00:08:28.020 --> 00:08:29.510 align:start position:0% trades over here it's first in first out do<00:08:28.379> you<00:08:28.500> understand<00:08:28.620> the<00:08:28.919> first<00:08:29.039> stand<00:08:29.280> person 00:08:29.510 --> 00:08:29.520 align:start position:0% do you understand the first stand person 00:08:29.520 --> 00:08:31.369 align:start position:0% do you understand the first stand person right<00:08:29.879> right<00:08:29.879> yeah<00:08:30.539> so<00:08:30.660> you<00:08:30.900> never<00:08:31.020> specified 00:08:31.369 --> 00:08:31.379 align:start position:0% right right yeah so you never specified 00:08:31.379 --> 00:08:33.130 align:start position:0% right right yeah so you never specified whether<00:08:31.800> there's<00:08:32.099> a<00:08:32.339> first<00:08:32.459> and<00:08:32.700> first<00:08:32.880> out 00:08:33.130 --> 00:08:33.140 align:start position:0% whether there's a first and first out 00:08:33.140 --> 00:08:36.170 align:start position:0% whether there's a first and first out rule<00:08:34.140> that<00:08:34.320> you<00:08:34.440> have<00:08:34.620> or<00:08:34.800> not<00:08:34.979> I<00:08:35.700> think<00:08:36.000> the 00:08:36.170 --> 00:08:36.180 align:start position:0% rule that you have or not I think the 00:08:36.180 --> 00:08:38.630 align:start position:0% rule that you have or not I think the what's<00:08:36.539> really<00:08:36.779> helpful<00:08:37.140> for<00:08:37.740> uh<00:08:38.279> for 00:08:38.630 --> 00:08:38.640 align:start position:0% what's really helpful for uh for 00:08:38.640 --> 00:08:40.850 align:start position:0% what's really helpful for uh for thinking<00:08:38.940> all<00:08:39.360> this<00:08:39.539> is<00:08:39.839> that<00:08:40.140> for<00:08:40.500> all 00:08:40.850 --> 00:08:40.860 align:start position:0% thinking all this is that for all 00:08:40.860 --> 00:08:43.310 align:start position:0% thinking all this is that for all practical<00:08:41.399> effects<00:08:41.820> and<00:08:41.940> purposes<00:08:42.320> in 00:08:43.310 --> 00:08:43.320 align:start position:0% practical effects and purposes in 00:08:43.320 --> 00:08:46.190 align:start position:0% practical effects and purposes in Colombia<00:08:43.740> uh<00:08:44.520> crypto<00:08:45.000> assets<00:08:45.360> are<00:08:45.660> intangible 00:08:46.190 --> 00:08:46.200 align:start position:0% Colombia uh crypto assets are intangible 00:08:46.200 --> 00:08:48.470 align:start position:0% Colombia uh crypto assets are intangible assets<00:08:46.620> so<00:08:47.279> you<00:08:47.399> would<00:08:47.519> handle<00:08:47.940> uh<00:08:48.240> say 00:08:48.470 --> 00:08:48.480 align:start position:0% assets so you would handle uh say 00:08:48.480 --> 00:08:50.870 align:start position:0% assets so you would handle uh say inventories<00:08:49.140> uh<00:08:49.680> in<00:08:49.920> the<00:08:50.100> same<00:08:50.279> you<00:08:50.760> would 00:08:50.870 --> 00:08:50.880 align:start position:0% inventories uh in the same you would 00:08:50.880 --> 00:08:53.449 align:start position:0% inventories uh in the same you would follow<00:08:51.120> the<00:08:51.600> the<00:08:52.080> current<00:08:52.380> accounting<00:08:53.100> rules 00:08:53.449 --> 00:08:53.459 align:start position:0% follow the the current accounting rules 00:08:53.459 --> 00:08:55.370 align:start position:0% follow the the current accounting rules right 00:08:55.370 --> 00:08:55.380 align:start position:0% right 00:08:55.380 --> 00:08:59.030 align:start position:0% right um uh<00:08:56.160> in<00:08:56.279> in<00:08:56.459> Colombia<00:08:57.180> this<00:08:57.779> uh<00:08:58.440> I<00:08:58.680> don't 00:08:59.030 --> 00:08:59.040 align:start position:0% um uh in in Colombia this uh I don't 00:08:59.040 --> 00:09:01.430 align:start position:0% um uh in in Colombia this uh I don't know<00:08:59.160> what<00:08:59.399> uh<00:09:00.180> accounting<00:09:00.899> rules<00:09:01.200> you're 00:09:01.430 --> 00:09:01.440 align:start position:0% know what uh accounting rules you're 00:09:01.440 --> 00:09:03.110 align:start position:0% know what uh accounting rules you're most<00:09:01.740> familiar<00:09:02.100> with<00:09:02.279> but<00:09:02.580> we<00:09:02.760> wouldn't<00:09:02.880> be 00:09:03.110 --> 00:09:03.120 align:start position:0% most familiar with but we wouldn't be 00:09:03.120 --> 00:09:05.870 align:start position:0% most familiar with but we wouldn't be using<00:09:03.420> a<00:09:03.660> US<00:09:03.899> U.S<00:09:04.500> gaap<00:09:04.860> but<00:09:05.459> we<00:09:05.640> would<00:09:05.760> be 00:09:05.870 --> 00:09:05.880 align:start position:0% using a US U.S gaap but we would be 00:09:05.880 --> 00:09:09.769 align:start position:0% using a US U.S gaap but we would be using<00:09:06.260> IFRS<00:09:07.260> rules<00:09:07.980> for<00:09:08.220> for<00:09:08.459> accounting<00:09:08.880> uh 00:09:09.769 --> 00:09:09.779 align:start position:0% using IFRS rules for for accounting uh 00:09:09.779 --> 00:09:11.630 align:start position:0% using IFRS rules for for accounting uh so<00:09:10.019> so<00:09:10.200> that's<00:09:10.440> what<00:09:10.620> would<00:09:10.800> apply<00:09:11.160> it<00:09:11.399> would 00:09:11.630 --> 00:09:11.640 align:start position:0% so so that's what would apply it would 00:09:11.640 --> 00:09:14.930 align:start position:0% so so that's what would apply it would apply<00:09:11.880> in<00:09:12.060> in<00:09:12.300> this<00:09:12.540> case<00:09:12.720> uh<00:09:13.440> I<00:09:13.560> I<00:09:13.680> I<00:09:13.920> think<00:09:14.459> uh 00:09:14.930 --> 00:09:14.940 align:start position:0% apply in in this case uh I I I think uh 00:09:14.940 --> 00:09:16.910 align:start position:0% apply in in this case uh I I I think uh we<00:09:15.300> probably<00:09:15.540> in<00:09:15.839> the<00:09:16.019> concept<00:09:16.260> and<00:09:16.560> in<00:09:16.740> the 00:09:16.910 --> 00:09:16.920 align:start position:0% we probably in the concept and in the 00:09:16.920 --> 00:09:20.030 align:start position:0% we probably in the concept and in the document<00:09:17.279> that<00:09:17.880> uh<00:09:18.240> we<00:09:18.480> will<00:09:18.660> uh<00:09:18.959> post<00:09:19.260> uh<00:09:19.800> I 00:09:20.030 --> 00:09:20.040 align:start position:0% document that uh we will uh post uh I 00:09:20.040 --> 00:09:22.370 align:start position:0% document that uh we will uh post uh I will<00:09:20.220> post<00:09:20.339> it<00:09:20.519> on<00:09:20.760> on<00:09:20.940> my<00:09:21.120> Twitter<00:09:21.240> account<00:09:21.600> uh 00:09:22.370 --> 00:09:22.380 align:start position:0% will post it on on my Twitter account uh 00:09:22.380 --> 00:09:25.190 align:start position:0% will post it on on my Twitter account uh uh<00:09:22.740> to<00:09:23.220> to<00:09:23.880> start<00:09:24.180> clarifying<00:09:24.779> some<00:09:24.959> of<00:09:25.080> those 00:09:25.190 --> 00:09:25.200 align:start position:0% uh to to start clarifying some of those 00:09:25.200 --> 00:09:28.070 align:start position:0% uh to to start clarifying some of those things<00:09:25.440> but<00:09:25.740> mostly<00:09:26.160> to<00:09:26.640> invite<00:09:27.240> questions 00:09:28.070 --> 00:09:28.080 align:start position:0% things but mostly to invite questions 00:09:28.080 --> 00:09:31.070 align:start position:0% things but mostly to invite questions like<00:09:28.560> this<00:09:28.800> so<00:09:29.339> that<00:09:29.700> we<00:09:30.180> can<00:09:30.300> we<00:09:30.540> can<00:09:30.660> give<00:09:30.839> you 00:09:31.070 --> 00:09:31.080 align:start position:0% like this so that we can we can give you 00:09:31.080 --> 00:09:34.370 align:start position:0% like this so that we can we can give you specific<00:09:31.860> detailed<00:09:32.700> answers 00:09:34.370 --> 00:09:34.380 align:start position:0% specific detailed answers 00:09:34.380 --> 00:09:37.910 align:start position:0% specific detailed answers um<00:09:34.440> yeah<00:09:35.120> what<00:09:36.120> about<00:09:36.300> the<00:09:37.019> crypto<00:09:37.380> you<00:09:37.620> gain 00:09:37.910 --> 00:09:37.920 align:start position:0% um yeah what about the crypto you gain 00:09:37.920 --> 00:09:40.970 align:start position:0% um yeah what about the crypto you gain like<00:09:38.220> paying<00:09:38.820> on<00:09:39.000> services<00:09:39.240> so<00:09:40.140> for<00:09:40.500> example<00:09:40.740> I 00:09:40.970 --> 00:09:40.980 align:start position:0% like paying on services so for example I 00:09:40.980 --> 00:09:43.730 align:start position:0% like paying on services so for example I have<00:09:41.160> a<00:09:41.339> income<00:09:41.700> right<00:09:42.120> on<00:09:42.360> crypto<00:09:43.140> how<00:09:43.560> should 00:09:43.730 --> 00:09:43.740 align:start position:0% have a income right on crypto how should 00:09:43.740 --> 00:09:47.990 align:start position:0% have a income right on crypto how should we<00:09:43.920> tax<00:09:44.040> that<00:09:44.580> yeah<00:09:45.240> uh<00:09:45.720> currently<00:09:46.140> we<00:09:46.740> so<00:09:47.519> uh 00:09:47.990 --> 00:09:48.000 align:start position:0% we tax that yeah uh currently we so uh 00:09:48.000 --> 00:09:50.990 align:start position:0% we tax that yeah uh currently we so uh you<00:09:48.360> you<00:09:48.660> can<00:09:48.959> be<00:09:49.140> paid<00:09:49.500> in 00:09:50.990 --> 00:09:51.000 align:start position:0% you you can be paid in 00:09:51.000 --> 00:09:53.990 align:start position:0% you you can be paid in in<00:09:51.360> in<00:09:51.420> and<00:09:51.839> things<00:09:52.800> other<00:09:52.980> than<00:09:53.160> Fiat<00:09:53.640> in<00:09:53.880> in 00:09:53.990 --> 00:09:54.000 align:start position:0% in in and things other than Fiat in in 00:09:54.000 --> 00:09:57.110 align:start position:0% in in and things other than Fiat in in Colombia<00:09:54.600> and<00:09:55.500> that's<00:09:56.040> uh<00:09:56.339> that's<00:09:56.940> already 00:09:57.110 --> 00:09:57.120 align:start position:0% Colombia and that's uh that's already 00:09:57.120 --> 00:10:00.290 align:start position:0% Colombia and that's uh that's already regulated<00:09:57.779> right<00:09:58.320> you<00:09:58.620> could<00:09:58.740> be<00:09:58.860> paid<00:09:59.100> uh<00:09:59.760> uh 00:10:00.290 --> 00:10:00.300 align:start position:0% regulated right you could be paid uh uh 00:10:00.300 --> 00:10:02.690 align:start position:0% regulated right you could be paid uh uh so<00:10:00.480> some<00:10:00.720> people<00:10:00.899> are<00:10:01.140> paid<00:10:01.440> in<00:10:01.980> uh<00:10:02.339> or<00:10:02.580> at 00:10:02.690 --> 00:10:02.700 align:start position:0% so some people are paid in uh or at 00:10:02.700 --> 00:10:04.550 align:start position:0% so some people are paid in uh or at least<00:10:02.820> partly<00:10:03.240> in<00:10:03.480> education<00:10:04.080> for<00:10:04.380> their 00:10:04.550 --> 00:10:04.560 align:start position:0% least partly in education for their 00:10:04.560 --> 00:10:06.530 align:start position:0% least partly in education for their children<00:10:04.740> right<00:10:05.040> like<00:10:05.279> their<00:10:05.580> uh<00:10:05.940> their<00:10:06.240> firm 00:10:06.530 --> 00:10:06.540 align:start position:0% children right like their uh their firm 00:10:06.540 --> 00:10:08.750 align:start position:0% children right like their uh their firm pays<00:10:06.959> their<00:10:07.200> children's<00:10:07.440> tuition<00:10:08.100> or<00:10:08.519> they 00:10:08.750 --> 00:10:08.760 align:start position:0% pays their children's tuition or they 00:10:08.760 --> 00:10:13.070 align:start position:0% pays their children's tuition or they give<00:10:09.000> them<00:10:09.300> uh<00:10:10.260> access<00:10:10.560> to<00:10:11.279> uh<00:10:12.060> country<00:10:12.600> clubs 00:10:13.070 --> 00:10:13.080 align:start position:0% give them uh access to uh country clubs 00:10:13.080 --> 00:10:16.009 align:start position:0% give them uh access to uh country clubs uh<00:10:13.440> which<00:10:13.680> have<00:10:13.980> a<00:10:14.220> certain<00:10:14.459> value<00:10:14.760> and<00:10:15.660> all 00:10:16.009 --> 00:10:16.019 align:start position:0% uh which have a certain value and all 00:10:16.019 --> 00:10:18.949 align:start position:0% uh which have a certain value and all those<00:10:16.260> payments<00:10:16.860> in<00:10:17.279> basically<00:10:17.820> and<00:10:18.120> stuff<00:10:18.360> uh 00:10:18.949 --> 00:10:18.959 align:start position:0% those payments in basically and stuff uh 00:10:18.959 --> 00:10:21.889 align:start position:0% those payments in basically and stuff uh the<00:10:19.200> same<00:10:19.380> rules<00:10:19.880> uh<00:10:20.880> as<00:10:21.060> for<00:10:21.300> payments<00:10:21.839> and 00:10:21.889 --> 00:10:21.899 align:start position:0% the same rules uh as for payments and 00:10:21.899 --> 00:10:23.990 align:start position:0% the same rules uh as for payments and income<00:10:22.260> and<00:10:22.560> then<00:10:22.680> and<00:10:22.920> excuse<00:10:23.220> me<00:10:23.279> and<00:10:23.459> Fiat 00:10:23.990 --> 00:10:24.000 align:start position:0% income and then and excuse me and Fiat 00:10:24.000 --> 00:10:27.769 align:start position:0% income and then and excuse me and Fiat apply<00:10:24.839> so<00:10:25.440> you<00:10:25.620> would<00:10:25.740> basically<00:10:26.160> have<00:10:26.459> to<00:10:26.820> uh 00:10:27.769 --> 00:10:27.779 align:start position:0% apply so you would basically have to uh 00:10:27.779 --> 00:10:31.030 align:start position:0% apply so you would basically have to uh tell<00:10:28.200> the<00:10:28.620> the<00:10:28.740> government<00:10:29.040> what<00:10:30.000> the 00:10:31.030 --> 00:10:31.040 align:start position:0% tell the the government what the 00:10:31.040 --> 00:10:36.290 align:start position:0% tell the the government what the uh<00:10:32.040> so<00:10:32.279> what's<00:10:32.519> the<00:10:32.760> the<00:10:32.940> fair<00:10:33.680> uh<00:10:34.680> Market<00:10:35.300> Fiat 00:10:36.290 --> 00:10:36.300 align:start position:0% uh so what's the the fair uh Market Fiat 00:10:36.300 --> 00:10:38.810 align:start position:0% uh so what's the the fair uh Market Fiat value<00:10:36.660> of<00:10:37.140> the<00:10:37.260> crypto<00:10:37.620> and<00:10:38.220> that<00:10:38.339> would<00:10:38.700> be 00:10:38.810 --> 00:10:38.820 align:start position:0% value of the crypto and that would be 00:10:38.820 --> 00:10:40.970 align:start position:0% value of the crypto and that would be the<00:10:39.060> the<00:10:39.180> basis<00:10:39.540> of<00:10:39.660> the<00:10:39.779> tax<00:10:39.899> you<00:10:40.080> pay 00:10:40.970 --> 00:10:40.980 align:start position:0% the the basis of the tax you pay 00:10:40.980 --> 00:10:43.490 align:start position:0% the the basis of the tax you pay but<00:10:41.279> you<00:10:41.459> would<00:10:41.640> pay<00:10:41.880> exactly<00:10:42.839> the<00:10:43.019> same<00:10:43.200> as<00:10:43.380> if 00:10:43.490 --> 00:10:43.500 align:start position:0% but you would pay exactly the same as if 00:10:43.500 --> 00:10:45.170 align:start position:0% but you would pay exactly the same as if you<00:10:43.680> were<00:10:43.740> paying<00:10:44.459> um 00:10:45.170 --> 00:10:45.180 align:start position:0% you were paying um 00:10:45.180 --> 00:10:47.930 align:start position:0% you were paying um as<00:10:45.420> if<00:10:45.600> you<00:10:45.720> were<00:10:45.839> paying<00:10:46.019> uh<00:10:46.620> if<00:10:47.459> you<00:10:47.820> were 00:10:47.930 --> 00:10:47.940 align:start position:0% as if you were paying uh if you were 00:10:47.940 --> 00:10:50.690 align:start position:0% as if you were paying uh if you were being<00:10:48.060> paid<00:10:48.360> in<00:10:48.899> uh<00:10:49.140> in<00:10:49.560> in<00:10:49.560> Fiat 00:10:50.690 --> 00:10:50.700 align:start position:0% being paid in uh in in Fiat 00:10:50.700 --> 00:10:53.690 align:start position:0% being paid in uh in in Fiat so<00:10:51.180> suppose<00:10:51.660> yeah<00:10:51.959> suppose<00:10:52.440> you 00:10:53.690 --> 00:10:53.700 align:start position:0% so suppose yeah suppose you 00:10:53.700 --> 00:10:55.910 align:start position:0% so suppose yeah suppose you um<00:10:53.760> so<00:10:54.600> so<00:10:54.779> you<00:10:55.019> work<00:10:55.140> for<00:10:55.320> a<00:10:55.500> company<00:10:55.620> that's 00:10:55.910 --> 00:10:55.920 align:start position:0% um so so you work for a company that's 00:10:55.920 --> 00:10:59.090 align:start position:0% um so so you work for a company that's paying<00:10:56.279> you<00:10:56.399> in<00:10:56.640> in<00:10:56.880> crypto<00:10:57.300> then 00:10:59.090 --> 00:10:59.100 align:start position:0% paying you in in crypto then 00:10:59.100 --> 00:11:01.009 align:start position:0% paying you in in crypto then um they<00:10:59.579> pay<00:10:59.760> you<00:11:00.000> uh<00:11:00.600> in<00:11:00.720> the<00:11:00.839> Italian 00:11:01.009 --> 00:11:01.019 align:start position:0% um they pay you uh in the Italian 00:11:01.019 --> 00:11:03.230 align:start position:0% um they pay you uh in the Italian government<00:11:01.380> this<00:11:02.160> is<00:11:02.220> how<00:11:02.399> many<00:11:02.519> pesos<00:11:02.940> this 00:11:03.230 --> 00:11:03.240 align:start position:0% government this is how many pesos this 00:11:03.240 --> 00:11:05.990 align:start position:0% government this is how many pesos this was<00:11:03.360> worth<00:11:03.740> then<00:11:04.740> you<00:11:05.160> pay<00:11:05.339> taxes<00:11:05.700> on<00:11:05.880> the 00:11:05.990 --> 00:11:06.000 align:start position:0% was worth then you pay taxes on the 00:11:06.000 --> 00:11:07.970 align:start position:0% was worth then you pay taxes on the basis<00:11:06.300> of<00:11:06.420> that<00:11:06.540> but<00:11:06.839> then<00:11:07.079> your<00:11:07.620> crypto 00:11:07.970 --> 00:11:07.980 align:start position:0% basis of that but then your crypto 00:11:07.980 --> 00:11:10.490 align:start position:0% basis of that but then your crypto continues<00:11:08.519> to<00:11:08.700> gain<00:11:09.000> in<00:11:09.180> value 00:11:10.490 --> 00:11:10.500 align:start position:0% continues to gain in value 00:11:10.500 --> 00:11:13.550 align:start position:0% continues to gain in value um<00:11:10.560> if<00:11:10.920> you<00:11:11.160> if<00:11:11.579> you<00:11:11.820> sell<00:11:12.000> it<00:11:12.240> to<00:11:13.200> buy 00:11:13.550 --> 00:11:13.560 align:start position:0% um if you if you sell it to buy 00:11:13.560 --> 00:11:15.410 align:start position:0% um if you if you sell it to buy something<00:11:13.860> something<00:11:14.279> else<00:11:14.579> then<00:11:15.060> at<00:11:15.300> the 00:11:15.410 --> 00:11:15.420 align:start position:0% something something else then at the 00:11:15.420 --> 00:11:17.870 align:start position:0% something something else then at the moment<00:11:15.600> of<00:11:15.779> selling<00:11:16.140> it<00:11:16.260> you<00:11:16.740> would<00:11:16.860> pay<00:11:17.160> uh<00:11:17.700> an 00:11:17.870 --> 00:11:17.880 align:start position:0% moment of selling it you would pay uh an 00:11:17.880 --> 00:11:20.269 align:start position:0% moment of selling it you would pay uh an additional<00:11:18.240> tax<00:11:18.480> on<00:11:18.899> on<00:11:19.140> those<00:11:19.380> capital<00:11:19.620> gains 00:11:20.269 --> 00:11:20.279 align:start position:0% additional tax on on those capital gains 00:11:20.279 --> 00:11:23.090 align:start position:0% additional tax on on those capital gains basically<00:11:21.120> yeah<00:11:21.600> and<00:11:22.200> if<00:11:22.380> you<00:11:22.560> you<00:11:22.860> know<00:11:22.980> if 00:11:23.090 --> 00:11:23.100 align:start position:0% basically yeah and if you you know if 00:11:23.100 --> 00:11:25.610 align:start position:0% basically yeah and if you you know if you<00:11:23.279> found<00:11:23.459> someone<00:11:23.760> who<00:11:24.120> was<00:11:24.240> willing<00:11:24.600> to<00:11:25.019> to 00:11:25.610 --> 00:11:25.620 align:start position:0% you found someone who was willing to to 00:11:25.620 --> 00:11:28.370 align:start position:0% you found someone who was willing to to sell<00:11:25.860> you<00:11:26.100> stuff<00:11:26.399> directly<00:11:27.060> uh<00:11:27.899> for<00:11:28.140> for 00:11:28.370 --> 00:11:28.380 align:start position:0% sell you stuff directly uh for for 00:11:28.380 --> 00:11:31.430 align:start position:0% sell you stuff directly uh for for crypto<00:11:28.800> then<00:11:29.640> uh<00:11:30.060> this<00:11:30.360> this<00:11:30.779> follows<00:11:31.260> the 00:11:31.430 --> 00:11:31.440 align:start position:0% crypto then uh this this follows the 00:11:31.440 --> 00:11:33.949 align:start position:0% crypto then uh this this follows the same<00:11:31.560> There<00:11:32.399> are<00:11:32.519> rules<00:11:32.820> and<00:11:33.060> regulations<00:11:33.660> in 00:11:33.949 --> 00:11:33.959 align:start position:0% same There are rules and regulations in 00:11:33.959 --> 00:11:37.250 align:start position:0% same There are rules and regulations in Colombia<00:11:34.380> that<00:11:34.680> apply<00:11:35.279> to<00:11:35.700> uh<00:11:36.540> exchanges<00:11:37.079> of 00:11:37.250 --> 00:11:37.260 align:start position:0% Colombia that apply to uh exchanges of 00:11:37.260 --> 00:11:39.769 align:start position:0% Colombia that apply to uh exchanges of stuff<00:11:37.380> right<00:11:37.620> like<00:11:37.860> if<00:11:37.980> you<00:11:38.160> if<00:11:38.579> you<00:11:38.820> trade<00:11:39.180> uh 00:11:39.769 --> 00:11:39.779 align:start position:0% stuff right like if you if you trade uh 00:11:39.779 --> 00:11:43.250 align:start position:0% stuff right like if you if you trade uh I<00:11:40.200> don't<00:11:40.260> know<00:11:40.380> if<00:11:40.740> you<00:11:40.920> trade<00:11:41.279> uh<00:11:42.120> a<00:11:42.600> house<00:11:42.720> for 00:11:43.250 --> 00:11:43.260 align:start position:0% I don't know if you trade uh a house for 00:11:43.260 --> 00:11:45.410 align:start position:0% I don't know if you trade uh a house for uh<00:11:43.620> five<00:11:44.100> cars<00:11:44.579> which<00:11:44.820> is<00:11:44.880> something<00:11:45.060> that 00:11:45.410 --> 00:11:45.420 align:start position:0% uh five cars which is something that 00:11:45.420 --> 00:11:47.389 align:start position:0% uh five cars which is something that people<00:11:45.660> sometimes<00:11:46.260> do<00:11:46.500> you<00:11:46.920> would<00:11:47.100> you<00:11:47.279> would 00:11:47.389 --> 00:11:47.399 align:start position:0% people sometimes do you would you would 00:11:47.399 --> 00:11:51.910 align:start position:0% people sometimes do you would you would apply<00:11:47.640> the<00:11:47.880> same<00:11:48.000> rules<00:11:48.300> in<00:11:48.540> the<00:11:48.660> tax<00:11:48.839> code 00:11:51.910 --> 00:11:51.920 align:start position:0% 00:11:51.920 --> 00:11:55.250 align:start position:0% some<00:11:52.920> wallets<00:11:53.339> have<00:11:53.700> uh<00:11:54.120> debit<00:11:54.480> cards<00:11:54.899> if 00:11:55.250 --> 00:11:55.260 align:start position:0% some wallets have uh debit cards if 00:11:55.260 --> 00:11:58.009 align:start position:0% some wallets have uh debit cards if you're<00:11:55.440> given<00:11:55.680> by<00:11:55.980> Visa<00:11:56.579> or<00:11:56.640> Mastercard<00:11:57.180> so 00:11:58.009 --> 00:11:58.019 align:start position:0% you're given by Visa or Mastercard so 00:11:58.019 --> 00:12:00.470 align:start position:0% you're given by Visa or Mastercard so how<00:11:58.440> do<00:11:58.620> you<00:11:58.800> make<00:11:59.399> a<00:11:59.579> chain<00:11:59.760> of<00:12:00.000> taxes 00:12:00.470 --> 00:12:00.480 align:start position:0% how do you make a chain of taxes 00:12:00.480 --> 00:12:03.110 align:start position:0% how do you make a chain of taxes whenever<00:12:01.200> you<00:12:01.440> have<00:12:01.560> a<00:12:01.740> wallet<00:12:02.100> that<00:12:02.459> lets<00:12:03.060> you 00:12:03.110 --> 00:12:03.120 align:start position:0% whenever you have a wallet that lets you 00:12:03.120 --> 00:12:06.050 align:start position:0% whenever you have a wallet that lets you save<00:12:03.240> in<00:12:03.480> usdc<00:12:04.079> or<00:12:04.500> whatever<00:12:04.800> and<00:12:05.579> then<00:12:05.700> spend 00:12:06.050 --> 00:12:06.060 align:start position:0% save in usdc or whatever and then spend 00:12:06.060 --> 00:12:08.870 align:start position:0% save in usdc or whatever and then spend it<00:12:06.240> in<00:12:06.420> retail<00:12:06.899> let's<00:12:07.260> say<00:12:07.380> in<00:12:07.560> a<00:12:07.740> cafe<00:12:07.860> I<00:12:08.700> think 00:12:08.870 --> 00:12:08.880 align:start position:0% it in retail let's say in a cafe I think 00:12:08.880 --> 00:12:11.389 align:start position:0% it in retail let's say in a cafe I think there<00:12:09.120> will<00:12:09.360> be<00:12:09.480> taxes<00:12:09.899> along<00:12:10.140> the<00:12:10.380> way<00:12:10.560> but 00:12:11.389 --> 00:12:11.399 align:start position:0% there will be taxes along the way but 00:12:11.399 --> 00:12:14.750 align:start position:0% there will be taxes along the way but who<00:12:11.820> is<00:12:12.000> paying<00:12:12.420> what<00:12:12.720> in<00:12:13.079> that<00:12:13.560> change 00:12:14.750 --> 00:12:14.760 align:start position:0% who is paying what in that change 00:12:14.760 --> 00:12:17.449 align:start position:0% who is paying what in that change so<00:12:15.779> um<00:12:15.839> I'm<00:12:16.019> sorry<00:12:16.320> the<00:12:16.560> question<00:12:16.680> is<00:12:16.920> you<00:12:17.220> have 00:12:17.449 --> 00:12:17.459 align:start position:0% so um I'm sorry the question is you have 00:12:17.459 --> 00:12:20.769 align:start position:0% so um I'm sorry the question is you have uh<00:12:17.940> uh<00:12:18.540> I<00:12:19.140> don't<00:12:19.380> have<00:12:19.500> one<00:12:19.680> just<00:12:19.980> okay<00:12:20.220> okay 00:12:20.769 --> 00:12:20.779 align:start position:0% uh uh I don't have one just okay okay 00:12:20.779 --> 00:12:23.810 align:start position:0% uh uh I don't have one just okay okay yeah<00:12:21.860> hypothetically<00:12:22.860> there<00:12:23.220> is<00:12:23.339> a<00:12:23.459> wallet 00:12:23.810 --> 00:12:23.820 align:start position:0% yeah hypothetically there is a wallet 00:12:23.820 --> 00:12:26.449 align:start position:0% yeah hypothetically there is a wallet with<00:12:24.000> debit<00:12:24.720> cards<00:12:25.079> so<00:12:25.740> how<00:12:25.980> do<00:12:26.100> they<00:12:26.220> pay 00:12:26.449 --> 00:12:26.459 align:start position:0% with debit cards so how do they pay 00:12:26.459 --> 00:12:29.150 align:start position:0% with debit cards so how do they pay taxes<00:12:27.000> along<00:12:27.300> the<00:12:27.540> way<00:12:27.660> when<00:12:28.019> you<00:12:28.200> have<00:12:28.380> debit 00:12:29.150 --> 00:12:29.160 align:start position:0% taxes along the way when you have debit 00:12:29.160 --> 00:12:32.870 align:start position:0% taxes along the way when you have debit cards<00:12:29.579> uh<00:12:30.660> the<00:12:31.260> payment<00:12:31.440> processors<00:12:32.220> and 00:12:32.870 --> 00:12:32.880 align:start position:0% cards uh the payment processors and 00:12:32.880 --> 00:12:35.329 align:start position:0% cards uh the payment processors and there<00:12:33.120> is<00:12:33.420> a<00:12:33.600> crypto<00:12:33.839> wallet<00:12:34.260> involved 00:12:35.329 --> 00:12:35.339 align:start position:0% there is a crypto wallet involved 00:12:35.339 --> 00:12:36.889 align:start position:0% there is a crypto wallet involved right 00:12:36.889 --> 00:12:36.899 align:start position:0% right 00:12:36.899 --> 00:12:40.490 align:start position:0% right um<00:12:36.959> yeah<00:12:37.560> currently<00:12:38.300> uh<00:12:39.300> none<00:12:39.720> of<00:12:39.839> that<00:12:39.899> so<00:12:40.140> uh 00:12:40.490 --> 00:12:40.500 align:start position:0% um yeah currently uh none of that so uh 00:12:40.500 --> 00:12:42.290 align:start position:0% um yeah currently uh none of that so uh those<00:12:40.740> are<00:12:40.920> things<00:12:41.100> that<00:12:41.339> would<00:12:41.519> have<00:12:41.760> to<00:12:42.000> be 00:12:42.290 --> 00:12:42.300 align:start position:0% those are things that would have to be 00:12:42.300 --> 00:12:45.050 align:start position:0% those are things that would have to be regulated<00:12:42.839> by<00:12:43.440> the<00:12:43.920> uh<00:12:44.579> by<00:12:44.820> the<00:12:44.940> financial 00:12:45.050 --> 00:12:45.060 align:start position:0% regulated by the uh by the financial 00:12:45.060 --> 00:12:48.590 align:start position:0% regulated by the uh by the financial Authority<00:12:46.019> uh<00:12:46.800> the<00:12:47.040> the<00:12:47.220> Colombian<00:12:47.880> SEC<00:12:48.120> the 00:12:48.590 --> 00:12:48.600 align:start position:0% Authority uh the the Colombian SEC the 00:12:48.600 --> 00:12:50.769 align:start position:0% Authority uh the the Colombian SEC the superintendency<00:12:49.260> of<00:12:49.500> financiera 00:12:50.769 --> 00:12:50.779 align:start position:0% superintendency of financiera 00:12:50.779 --> 00:12:54.710 align:start position:0% superintendency of financiera uh<00:12:51.779> because<00:12:52.200> uh<00:12:52.920> the<00:12:53.160> regulation<00:12:53.579> is<00:12:53.880> still<00:12:54.240> to 00:12:54.710 --> 00:12:54.720 align:start position:0% uh because uh the regulation is still to 00:12:54.720 --> 00:12:57.949 align:start position:0% uh because uh the regulation is still to come<00:12:54.959> uh<00:12:55.680> you<00:12:55.920> would<00:12:56.100> basically<00:12:56.540> not<00:12:57.540> pay<00:12:57.720> a 00:12:57.949 --> 00:12:57.959 align:start position:0% come uh you would basically not pay a 00:12:57.959 --> 00:12:59.329 align:start position:0% come uh you would basically not pay a lot<00:12:58.019> of<00:12:58.139> things<00:12:58.440> that<00:12:58.680> you<00:12:58.800> pay<00:12:58.980> in<00:12:59.160> the 00:12:59.329 --> 00:12:59.339 align:start position:0% lot of things that you pay in the 00:12:59.339 --> 00:13:01.670 align:start position:0% lot of things that you pay in the current<00:12:59.459> Financial<00:12:59.760> system<00:13:00.180> there's<00:13:00.839> uh<00:13:01.200> you 00:13:01.670 --> 00:13:01.680 align:start position:0% current Financial system there's uh you 00:13:01.680 --> 00:13:02.990 align:start position:0% current Financial system there's uh you may<00:13:01.800> be<00:13:01.920> aware<00:13:02.160> that<00:13:02.339> that<00:13:02.519> in<00:13:02.700> Colombia 00:13:02.990 --> 00:13:03.000 align:start position:0% may be aware that that in Colombia 00:13:03.000 --> 00:13:04.610 align:start position:0% may be aware that that in Colombia there's<00:13:03.240> the<00:13:03.420> cuatro<00:13:03.899> per<00:13:04.019> meal<00:13:04.320> which<00:13:04.500> is 00:13:04.610 --> 00:13:04.620 align:start position:0% there's the cuatro per meal which is 00:13:04.620 --> 00:13:07.009 align:start position:0% there's the cuatro per meal which is like<00:13:04.860> a<00:13:05.100> 0.4<00:13:05.700> percent<00:13:05.880> tax<00:13:06.480> on<00:13:06.720> financial 00:13:07.009 --> 00:13:07.019 align:start position:0% like a 0.4 percent tax on financial 00:13:07.019 --> 00:13:10.129 align:start position:0% like a 0.4 percent tax on financial transactions<00:13:07.860> uh<00:13:08.760> that<00:13:09.000> would<00:13:09.240> apply<00:13:09.660> only 00:13:10.129 --> 00:13:10.139 align:start position:0% transactions uh that would apply only 00:13:10.139 --> 00:13:14.389 align:start position:0% transactions uh that would apply only when<00:13:10.560> you<00:13:10.740> convert<00:13:11.220> that<00:13:11.639> into<00:13:12.320> uh<00:13:13.320> uh<00:13:14.220> you 00:13:14.389 --> 00:13:14.399 align:start position:0% when you convert that into uh uh you 00:13:14.399 --> 00:13:16.550 align:start position:0% when you convert that into uh uh you know<00:13:14.519> into<00:13:14.639> into<00:13:14.760> VR<00:13:15.420> and<00:13:15.660> into<00:13:15.899> uh<00:13:16.260> the 00:13:16.550 --> 00:13:16.560 align:start position:0% know into into VR and into uh the 00:13:16.560 --> 00:13:20.090 align:start position:0% know into into VR and into uh the traditional<00:13:17.040> Financial<00:13:17.700> system<00:13:18.620> uh<00:13:19.620> but 00:13:20.090 --> 00:13:20.100 align:start position:0% traditional Financial system uh but 00:13:20.100 --> 00:13:21.710 align:start position:0% traditional Financial system uh but that's<00:13:20.220> that's<00:13:20.579> a<00:13:20.820> great<00:13:20.940> idea<00:13:21.180> to<00:13:21.360> raise<00:13:21.540> her 00:13:21.710 --> 00:13:21.720 align:start position:0% that's that's a great idea to raise her 00:13:21.720 --> 00:13:23.449 align:start position:0% that's that's a great idea to raise her anyway<00:13:21.899> I'll<00:13:22.139> take<00:13:22.320> that<00:13:22.440> one<00:13:22.560> with<00:13:22.740> me 00:13:23.449 --> 00:13:23.459 align:start position:0% anyway I'll take that one with me 00:13:23.459 --> 00:13:24.350 align:start position:0% anyway I'll take that one with me um<00:13:23.519> yeah 00:13:24.350 --> 00:13:24.360 align:start position:0% um yeah 00:13:24.360 --> 00:13:27.110 align:start position:0% um yeah I'm<00:13:24.839> just<00:13:25.019> kidding<00:13:25.380> uh<00:13:25.860> but<00:13:26.399> not<00:13:26.579> entirely 00:13:27.110 --> 00:13:27.120 align:start position:0% I'm just kidding uh but not entirely 00:13:27.120 --> 00:13:30.050 align:start position:0% I'm just kidding uh but not entirely yeah<00:13:27.480> what's<00:13:28.019> your<00:13:28.260> position<00:13:28.500> about<00:13:29.399> using 00:13:30.050 --> 00:13:30.060 align:start position:0% yeah what's your position about using 00:13:30.060 --> 00:13:32.870 align:start position:0% yeah what's your position about using any<00:13:30.300> cryptocurrency<00:13:31.079> as<00:13:31.920> a<00:13:32.040> collateral<00:13:32.459> to 00:13:32.870 --> 00:13:32.880 align:start position:0% any cryptocurrency as a collateral to 00:13:32.880 --> 00:13:36.730 align:start position:0% any cryptocurrency as a collateral to have<00:13:33.060> a<00:13:33.600> pesos<00:13:34.320> or<00:13:34.560> use<00:13:34.800> dollars 00:13:36.730 --> 00:13:36.740 align:start position:0% have a pesos or use dollars 00:13:36.740 --> 00:13:39.650 align:start position:0% have a pesos or use dollars as<00:13:37.740> a<00:13:37.980> collateral<00:13:38.279> uh<00:13:38.639> like<00:13:38.820> for<00:13:39.060> uh<00:13:39.180> getting<00:13:39.420> a 00:13:39.650 --> 00:13:39.660 align:start position:0% as a collateral uh like for uh getting a 00:13:39.660 --> 00:13:43.129 align:start position:0% as a collateral uh like for uh getting a loan<00:13:39.899> or<00:13:40.139> yes<00:13:40.440> exactly<00:13:40.920> yeah<00:13:41.399> uh<00:13:42.000> this<00:13:42.360> is<00:13:42.540> uh 00:13:43.129 --> 00:13:43.139 align:start position:0% loan or yes exactly yeah uh this is uh 00:13:43.139 --> 00:13:45.230 align:start position:0% loan or yes exactly yeah uh this is uh this<00:13:43.440> is<00:13:43.560> uh<00:13:43.980> still<00:13:44.220> something<00:13:44.459> that<00:13:44.820> has<00:13:45.060> to 00:13:45.230 --> 00:13:45.240 align:start position:0% this is uh still something that has to 00:13:45.240 --> 00:13:48.410 align:start position:0% this is uh still something that has to be<00:13:45.720> regulated<00:13:46.320> by<00:13:46.740> the<00:13:46.980> financial<00:13:47.420> Authority 00:13:48.410 --> 00:13:48.420 align:start position:0% be regulated by the financial Authority 00:13:48.420 --> 00:13:52.009 align:start position:0% be regulated by the financial Authority uh<00:13:49.019> so<00:13:49.320> uh<00:13:49.800> uh<00:13:50.760> I<00:13:50.940> suppose<00:13:51.180> you<00:13:51.360> could<00:13:51.540> sign<00:13:51.779> a 00:13:52.009 --> 00:13:52.019 align:start position:0% uh so uh uh I suppose you could sign a 00:13:52.019 --> 00:13:53.990 align:start position:0% uh so uh uh I suppose you could sign a private<00:13:52.500> contract<00:13:52.860> uh<00:13:53.339> and<00:13:53.459> then<00:13:53.639> you<00:13:53.820> give 00:13:53.990 --> 00:13:54.000 align:start position:0% private contract uh and then you give 00:13:54.000 --> 00:13:55.610 align:start position:0% private contract uh and then you give this<00:13:54.180> as<00:13:54.300> a<00:13:54.480> collateral<00:13:54.839> as<00:13:55.139> long<00:13:55.320> as<00:13:55.380> someone 00:13:55.610 --> 00:13:55.620 align:start position:0% this as a collateral as long as someone 00:13:55.620 --> 00:13:58.129 align:start position:0% this as a collateral as long as someone else<00:13:55.920> accepts<00:13:56.459> it<00:13:56.579> uh<00:13:57.120> you<00:13:57.300> you<00:13:57.540> could<00:13:57.779> sign 00:13:58.129 --> 00:13:58.139 align:start position:0% else accepts it uh you you could sign 00:13:58.139 --> 00:13:59.930 align:start position:0% else accepts it uh you you could sign you<00:13:58.860> could<00:13:58.980> sign<00:13:59.160> a<00:13:59.339> contract<00:13:59.519> that<00:13:59.700> that 00:13:59.930 --> 00:13:59.940 align:start position:0% you could sign a contract that that 00:13:59.940 --> 00:14:03.710 align:start position:0% you could sign a contract that that specifies<00:14:00.480> it<00:14:00.660> right<00:14:01.019> yeah<00:14:01.680> right<00:14:02.579> okay<00:14:03.120> so<00:14:03.360> in 00:14:03.710 --> 00:14:03.720 align:start position:0% specifies it right yeah right okay so in 00:14:03.720 --> 00:14:06.650 align:start position:0% specifies it right yeah right okay so in the<00:14:03.839> case<00:14:03.959> of<00:14:04.139> uh<00:14:04.680> of<00:14:05.399> D5<00:14:05.760> yeah<00:14:06.060> uh<00:14:06.480> we're 00:14:06.650 --> 00:14:06.660 align:start position:0% the case of uh of D5 yeah uh we're 00:14:06.660 --> 00:14:08.870 align:start position:0% the case of uh of D5 yeah uh we're actually<00:14:07.019> this<00:14:07.320> is<00:14:07.440> one<00:14:07.680> of<00:14:07.800> the<00:14:08.100> questions 00:14:08.870 --> 00:14:08.880 align:start position:0% actually this is one of the questions 00:14:08.880 --> 00:14:10.910 align:start position:0% actually this is one of the questions that<00:14:09.180> that<00:14:09.360> we<00:14:09.959> currently<00:14:10.260> want<00:14:10.560> to<00:14:10.680> to 00:14:10.910 --> 00:14:10.920 align:start position:0% that that we currently want to to 00:14:10.920 --> 00:14:13.430 align:start position:0% that that we currently want to to address<00:14:11.220> in<00:14:11.760> detail<00:14:12.120> uh<00:14:12.540> because<00:14:12.720> it's<00:14:13.019> it's<00:14:13.200> a 00:14:13.430 --> 00:14:13.440 align:start position:0% address in detail uh because it's it's a 00:14:13.440 --> 00:14:16.129 align:start position:0% address in detail uh because it's it's a question<00:14:13.560> that<00:14:13.800> we've<00:14:14.100> been<00:14:14.220> uh<00:14:14.899> yeah<00:14:15.899> we're 00:14:16.129 --> 00:14:16.139 align:start position:0% question that we've been uh yeah we're 00:14:16.139 --> 00:14:18.050 align:start position:0% question that we've been uh yeah we're being<00:14:16.380> asked<00:14:16.680> a<00:14:16.800> lot<00:14:16.920> so<00:14:17.160> so<00:14:17.339> we're<00:14:17.579> working<00:14:17.820> on 00:14:18.050 --> 00:14:18.060 align:start position:0% being asked a lot so so we're working on 00:14:18.060 --> 00:14:20.990 align:start position:0% being asked a lot so so we're working on on<00:14:18.360> issues<00:14:18.779> related<00:14:19.019> to<00:14:19.200> to<00:14:19.320> D5<00:14:19.740> for<00:14:20.040> sure<00:14:20.160> your 00:14:20.990 --> 00:14:21.000 align:start position:0% on issues related to to D5 for sure your 00:14:21.000 --> 00:14:23.629 align:start position:0% on issues related to to D5 for sure your offer<00:14:21.420> your<00:14:21.779> office<00:14:22.019> published<00:14:22.800> a<00:14:23.220> document 00:14:23.629 --> 00:14:23.639 align:start position:0% offer your office published a document 00:14:23.639 --> 00:14:26.410 align:start position:0% offer your office published a document like<00:14:24.180> four<00:14:24.540> months<00:14:24.839> ago<00:14:25.019> the<00:14:25.320> former<00:14:25.740> director 00:14:26.410 --> 00:14:26.420 align:start position:0% like four months ago the former director 00:14:26.420 --> 00:14:29.990 align:start position:0% like four months ago the former director regarding<00:14:27.420> this<00:14:27.959> uh<00:14:28.380> taxi<00:14:28.800> song<00:14:28.980> crypto<00:14:29.399> that 00:14:29.990 --> 00:14:30.000 align:start position:0% regarding this uh taxi song crypto that 00:14:30.000 --> 00:14:33.290 align:start position:0% regarding this uh taxi song crypto that that<00:14:30.300> document<00:14:30.779> is<00:14:31.440> still<00:14:31.860> running<00:14:32.760> we<00:14:33.120> have 00:14:33.290 --> 00:14:33.300 align:start position:0% that document is still running we have 00:14:33.300 --> 00:14:35.509 align:start position:0% that document is still running we have to<00:14:33.420> apply<00:14:33.660> that<00:14:33.839> it's<00:14:34.320> it's<00:14:34.680> still<00:14:34.920> in<00:14:35.100> force 00:14:35.509 --> 00:14:35.519 align:start position:0% to apply that it's it's still in force 00:14:35.519 --> 00:14:39.370 align:start position:0% to apply that it's it's still in force uh<00:14:35.820> there<00:14:36.060> were<00:14:36.959> roughly<00:14:37.920> 25 00:14:39.370 --> 00:14:39.380 align:start position:0% uh there were roughly 25 00:14:39.380 --> 00:14:42.189 align:start position:0% uh there were roughly 25 documents<00:14:40.380> that<00:14:40.560> we<00:14:40.740> had<00:14:40.920> published 00:14:42.189 --> 00:14:42.199 align:start position:0% documents that we had published 00:14:42.199 --> 00:14:45.590 align:start position:0% documents that we had published answering<00:14:43.199> various<00:14:43.800> questions<00:14:44.300> so<00:14:45.300> what 00:14:45.590 --> 00:14:45.600 align:start position:0% answering various questions so what 00:14:45.600 --> 00:14:47.389 align:start position:0% answering various questions so what we're<00:14:45.779> doing<00:14:45.959> is<00:14:46.139> we're<00:14:46.380> compiling<00:14:46.980> all<00:14:47.220> of 00:14:47.389 --> 00:14:47.399 align:start position:0% we're doing is we're compiling all of 00:14:47.399 --> 00:14:51.050 align:start position:0% we're doing is we're compiling all of them<00:14:47.579> in<00:14:48.240> a<00:14:48.420> single<00:14:48.660> document<00:14:49.019> so<00:14:49.500> that<00:14:49.920> uh<00:14:50.820> you 00:14:51.050 --> 00:14:51.060 align:start position:0% them in a single document so that uh you 00:14:51.060 --> 00:14:52.730 align:start position:0% them in a single document so that uh you have<00:14:51.240> everything<00:14:51.540> in<00:14:51.899> One<00:14:52.079> Source<00:14:52.500> but 00:14:52.730 --> 00:14:52.740 align:start position:0% have everything in One Source but 00:14:52.740 --> 00:14:54.710 align:start position:0% have everything in One Source but nothing<00:14:53.160> has<00:14:53.519> has<00:14:53.760> changed<00:14:54.180> we<00:14:54.360> just<00:14:54.480> want<00:14:54.600> to 00:14:54.710 --> 00:14:54.720 align:start position:0% nothing has has changed we just want to 00:14:54.720 --> 00:14:57.290 align:start position:0% nothing has has changed we just want to make<00:14:54.899> this<00:14:55.139> more<00:14:55.380> accessible<00:14:55.860> and<00:14:56.579> like<00:14:57.120> I 00:14:57.290 --> 00:14:57.300 align:start position:0% make this more accessible and like I 00:14:57.300 --> 00:15:00.530 align:start position:0% make this more accessible and like I said<00:14:57.480> uh<00:14:58.139> some<00:14:58.740> of<00:14:58.860> these<00:14:59.220> you<00:15:00.120> know<00:15:00.240> these 00:15:00.530 --> 00:15:00.540 align:start position:0% said uh some of these you know these 00:15:00.540 --> 00:15:02.930 align:start position:0% said uh some of these you know these questions<00:15:00.720> and<00:15:01.440> more<00:15:01.860> if<00:15:02.040> you<00:15:02.459> guys<00:15:02.579> want<00:15:02.820> to 00:15:02.930 --> 00:15:02.940 align:start position:0% questions and more if you guys want to 00:15:02.940 --> 00:15:08.210 align:start position:0% questions and more if you guys want to uh<00:15:03.600> you<00:15:03.899> know<00:15:03.959> talk<00:15:04.380> to<00:15:04.560> to<00:15:04.860> the<00:15:05.639> the<00:15:05.760> to<00:15:06.600> uh<00:15:07.220> uh 00:15:08.210 --> 00:15:08.220 align:start position:0% uh you know talk to to the the to uh uh 00:15:08.220 --> 00:15:10.910 align:start position:0% uh you know talk to to the the to uh uh lawyers<00:15:09.000> from<00:15:09.600> from<00:15:09.779> Beyond<00:15:10.139> that<00:15:10.380> that<00:15:10.680> came 00:15:10.910 --> 00:15:10.920 align:start position:0% lawyers from from Beyond that that came 00:15:10.920 --> 00:15:12.889 align:start position:0% lawyers from from Beyond that that came here<00:15:11.160> uh<00:15:11.579> with<00:15:11.820> me 00:15:12.889 --> 00:15:12.899 align:start position:0% here uh with me 00:15:12.899 --> 00:15:14.990 align:start position:0% here uh with me um we<00:15:13.560> will<00:15:13.680> make<00:15:13.920> sure<00:15:14.160> to<00:15:14.339> address<00:15:14.519> them<00:15:14.820> we 00:15:14.990 --> 00:15:15.000 align:start position:0% um we will make sure to address them we 00:15:15.000 --> 00:15:16.850 align:start position:0% um we will make sure to address them we want<00:15:15.120> to<00:15:15.240> give<00:15:15.420> the<00:15:15.660> to<00:15:15.899> have<00:15:16.199> a<00:15:16.380> comprehensive 00:15:16.850 --> 00:15:16.860 align:start position:0% want to give the to have a comprehensive 00:15:16.860 --> 00:15:19.670 align:start position:0% want to give the to have a comprehensive treatment<00:15:17.100> of<00:15:17.699> of<00:15:18.420> how<00:15:18.839> to<00:15:18.959> handle<00:15:19.320> these<00:15:19.560> tax 00:15:19.670 --> 00:15:19.680 align:start position:0% treatment of of how to handle these tax 00:15:19.680 --> 00:15:22.009 align:start position:0% treatment of of how to handle these tax issues<00:15:20.160> to<00:15:20.399> to<00:15:20.579> give<00:15:20.880> you<00:15:21.660> know<00:15:21.720> to<00:15:21.839> give 00:15:22.009 --> 00:15:22.019 align:start position:0% issues to to give you know to give 00:15:22.019 --> 00:15:23.870 align:start position:0% issues to to give you know to give everyone<00:15:22.199> more<00:15:22.680> more<00:15:23.100> certainty<00:15:23.639> and 00:15:23.870 --> 00:15:23.880 align:start position:0% everyone more more certainty and 00:15:23.880 --> 00:15:26.210 align:start position:0% everyone more more certainty and instability<00:15:24.480> and<00:15:25.139> and<00:15:25.380> hopefully<00:15:25.860> not<00:15:26.040> have 00:15:26.210 --> 00:15:26.220 align:start position:0% instability and and hopefully not have 00:15:26.220 --> 00:15:28.910 align:start position:0% instability and and hopefully not have to<00:15:26.339> pay<00:15:26.519> like<00:15:27.019> very<00:15:28.019> expensive<00:15:28.380> Consultants 00:15:28.910 --> 00:15:28.920 align:start position:0% to pay like very expensive Consultants 00:15:28.920 --> 00:15:31.189 align:start position:0% to pay like very expensive Consultants when<00:15:29.160> we<00:15:29.279> can<00:15:29.399> do<00:15:29.579> it<00:15:29.699> for<00:15:29.880> free<00:15:30.000> for<00:15:30.300> you<00:15:30.420> the 00:15:31.189 --> 00:15:31.199 align:start position:0% when we can do it for free for you the 00:15:31.199 --> 00:15:33.290 align:start position:0% when we can do it for free for you the context<00:15:31.500> of<00:15:31.740> of<00:15:31.920> my<00:15:32.220> question<00:15:32.399> is<00:15:32.699> because<00:15:32.940> the 00:15:33.290 --> 00:15:33.300 align:start position:0% context of of my question is because the 00:15:33.300 --> 00:15:35.569 align:start position:0% context of of my question is because the the<00:15:33.480> former<00:15:33.899> director<00:15:34.260> yeah<00:15:34.800> said<00:15:35.399> in 00:15:35.569 --> 00:15:35.579 align:start position:0% the former director yeah said in 00:15:35.579 --> 00:15:38.629 align:start position:0% the former director yeah said in incarnate<00:15:36.000> called<00:15:36.480> noticias<00:15:37.199> that<00:15:38.160> people 00:15:38.629 --> 00:15:38.639 align:start position:0% incarnate called noticias that people 00:15:38.639 --> 00:15:41.389 align:start position:0% incarnate called noticias that people that<00:15:39.180> is<00:15:39.420> that<00:15:39.899> need<00:15:40.139> to<00:15:40.380> declare<00:15:40.980> their 00:15:41.389 --> 00:15:41.399 align:start position:0% that is that need to declare their 00:15:41.399 --> 00:15:44.389 align:start position:0% that is that need to declare their crypto<00:15:41.760> they<00:15:42.120> have<00:15:42.240> to<00:15:42.360> do<00:15:42.480> it<00:15:42.600> from<00:15:42.839> 2017<00:15:43.440> and 00:15:44.389 --> 00:15:44.399 align:start position:0% crypto they have to do it from 2017 and 00:15:44.399 --> 00:15:47.449 align:start position:0% crypto they have to do it from 2017 and they<00:15:44.639> have<00:15:44.820> to<00:15:45.120> pay<00:15:45.480> the<00:15:45.899> maltas<00:15:46.740> from<00:15:47.220> those 00:15:47.449 --> 00:15:47.459 align:start position:0% they have to pay the maltas from those 00:15:47.459 --> 00:15:51.050 align:start position:0% they have to pay the maltas from those years<00:15:47.699> 17<00:15:48.300> 18<00:15:48.720> 19<00:15:49.079> 20.<00:15:49.920> and<00:15:50.399> what<00:15:50.579> do<00:15:50.760> you<00:15:50.880> think 00:15:51.050 --> 00:15:51.060 align:start position:0% years 17 18 19 20. and what do you think 00:15:51.060 --> 00:15:53.150 align:start position:0% years 17 18 19 20. and what do you think about<00:15:51.240> that<00:15:51.600> because<00:15:51.839> the<00:15:52.139> incentives<00:15:52.620> are 00:15:53.150 --> 00:15:53.160 align:start position:0% about that because the incentives are 00:15:53.160 --> 00:15:56.030 align:start position:0% about that because the incentives are maybe<00:15:53.399> not<00:15:53.639> aligned<00:15:54.060> and<00:15:54.420> people<00:15:55.079> don't<00:15:55.800> want 00:15:56.030 --> 00:15:56.040 align:start position:0% maybe not aligned and people don't want 00:15:56.040 --> 00:15:58.910 align:start position:0% maybe not aligned and people don't want to<00:15:56.220> declare<00:15:56.579> something<00:15:56.880> to<00:15:57.360> be<00:15:57.600> a<00:15:57.839> bad<00:15:58.680> person 00:15:58.910 --> 00:15:58.920 align:start position:0% to declare something to be a bad person 00:15:58.920 --> 00:16:01.310 align:start position:0% to declare something to be a bad person and<00:15:59.220> paying<00:15:59.639> those<00:15:59.820> multas<00:16:00.480> you<00:16:00.660> know 00:16:01.310 --> 00:16:01.320 align:start position:0% and paying those multas you know 00:16:01.320 --> 00:16:04.970 align:start position:0% and paying those multas you know right<00:16:02.579> um<00:16:02.639> as<00:16:02.940> part<00:16:03.180> of<00:16:03.360> the<00:16:03.660> uh<00:16:04.019> the<00:16:04.199> the<00:16:04.199> tax 00:16:04.970 --> 00:16:04.980 align:start position:0% right um as part of the uh the the tax 00:16:04.980 --> 00:16:07.910 align:start position:0% right um as part of the uh the the tax reform<00:16:05.339> bill<00:16:05.639> that<00:16:06.240> uh<00:16:06.660> we<00:16:07.019> are 00:16:07.910 --> 00:16:07.920 align:start position:0% reform bill that uh we are 00:16:07.920 --> 00:16:11.150 align:start position:0% reform bill that uh we are um<00:16:08.040> you<00:16:08.579> know<00:16:08.639> uh<00:16:09.360> uh<00:16:10.320> shepherding<00:16:10.920> through 00:16:11.150 --> 00:16:11.160 align:start position:0% um you know uh uh shepherding through 00:16:11.160 --> 00:16:13.730 align:start position:0% um you know uh uh shepherding through Congress<00:16:12.019> we<00:16:13.019> are 00:16:13.730 --> 00:16:13.740 align:start position:0% Congress we are 00:16:13.740 --> 00:16:18.769 align:start position:0% Congress we are trying<00:16:14.579> to<00:16:15.060> make<00:16:15.660> a<00:16:16.380> lot<00:16:16.500> of<00:16:16.620> those<00:16:17.040> fines<00:16:17.940> uh 00:16:18.769 --> 00:16:18.779 align:start position:0% trying to make a lot of those fines uh 00:16:18.779 --> 00:16:21.590 align:start position:0% trying to make a lot of those fines uh not<00:16:19.620> just<00:16:19.800> for<00:16:20.040> crypto<00:16:20.459> specifically<00:16:20.940> but<00:16:21.300> for 00:16:21.590 --> 00:16:21.600 align:start position:0% not just for crypto specifically but for 00:16:21.600 --> 00:16:25.310 align:start position:0% not just for crypto specifically but for a<00:16:21.779> lot<00:16:21.959> of<00:16:22.680> uh<00:16:23.339> different<00:16:23.579> businesses<00:16:24.360> and<00:16:25.019> and 00:16:25.310 --> 00:16:25.320 align:start position:0% a lot of uh different businesses and and 00:16:25.320 --> 00:16:28.870 align:start position:0% a lot of uh different businesses and and also<00:16:26.160> just<00:16:26.399> regular<00:16:26.820> people<00:16:27.199> a<00:16:28.199> lot<00:16:28.320> more 00:16:28.870 --> 00:16:28.880 align:start position:0% also just regular people a lot more 00:16:28.880 --> 00:16:31.370 align:start position:0% also just regular people a lot more understanding<00:16:29.880> of<00:16:30.120> when<00:16:30.420> people<00:16:30.660> are<00:16:31.199> not 00:16:31.370 --> 00:16:31.380 align:start position:0% understanding of when people are not 00:16:31.380 --> 00:16:34.610 align:start position:0% understanding of when people are not really<00:16:31.560> at<00:16:31.860> fault<00:16:32.160> and<00:16:32.940> we<00:16:33.120> want<00:16:33.360> to<00:16:33.480> focus<00:16:34.139> on 00:16:34.610 --> 00:16:34.620 align:start position:0% really at fault and we want to focus on 00:16:34.620 --> 00:16:37.730 align:start position:0% really at fault and we want to focus on actual<00:16:34.980> tax<00:16:35.339> evaders<00:16:36.120> uh<00:16:36.660> the<00:16:37.019> process<00:16:37.259> is 00:16:37.730 --> 00:16:37.740 align:start position:0% actual tax evaders uh the process is 00:16:37.740 --> 00:16:41.210 align:start position:0% actual tax evaders uh the process is still<00:16:38.100> ongoing<00:16:38.639> so<00:16:39.180> uh<00:16:39.660> as<00:16:40.320> I<00:16:40.440> said<00:16:40.560> we<00:16:40.920> we 00:16:41.210 --> 00:16:41.220 align:start position:0% still ongoing so uh as I said we we 00:16:41.220 --> 00:16:42.249 align:start position:0% still ongoing so uh as I said we we welcome 00:16:42.249 --> 00:16:42.259 align:start position:0% welcome 00:16:42.259 --> 00:16:45.290 align:start position:0% welcome all<00:16:43.259> feedback<00:16:43.860> that<00:16:44.339> that<00:16:44.639> you<00:16:44.880> may<00:16:45.060> have 00:16:45.290 --> 00:16:45.300 align:start position:0% all feedback that that you may have 00:16:45.300 --> 00:16:47.150 align:start position:0% all feedback that that you may have about<00:16:45.779> the<00:16:46.139> permissions<00:16:46.740> that<00:16:46.920> we<00:16:47.040> have 00:16:47.150 --> 00:16:47.160 align:start position:0% about the permissions that we have 00:16:47.160 --> 00:16:49.490 align:start position:0% about the permissions that we have already<00:16:47.420> included<00:16:48.420> in<00:16:48.540> the<00:16:48.720> bill<00:16:48.839> and<00:16:49.259> what 00:16:49.490 --> 00:16:49.500 align:start position:0% already included in the bill and what 00:16:49.500 --> 00:16:51.829 align:start position:0% already included in the bill and what else<00:16:49.620> could<00:16:49.980> be<00:16:50.160> could<00:16:50.399> be<00:16:50.639> useful<00:16:50.940> one<00:16:51.660> thing 00:16:51.829 --> 00:16:51.839 align:start position:0% else could be could be useful one thing 00:16:51.839 --> 00:16:54.170 align:start position:0% else could be could be useful one thing that<00:16:52.199> uh<00:16:52.560> we<00:16:52.920> uh<00:16:53.220> we<00:16:53.459> have<00:16:53.579> gotten<00:16:53.820> a<00:16:53.940> lot<00:16:54.060> of 00:16:54.170 --> 00:16:54.180 align:start position:0% that uh we uh we have gotten a lot of 00:16:54.180 --> 00:16:57.350 align:start position:0% that uh we uh we have gotten a lot of questions<00:16:54.540> about<00:16:55.440> has<00:16:55.860> to<00:16:56.100> do<00:16:56.220> with<00:16:56.579> whether 00:16:57.350 --> 00:16:57.360 align:start position:0% questions about has to do with whether 00:16:57.360 --> 00:17:01.730 align:start position:0% questions about has to do with whether we<00:16:57.600> will<00:16:57.779> accept<00:16:58.019> taxes<00:16:58.920> uh<00:16:59.820> in<00:17:00.120> crypto<00:17:00.740> uh 00:17:01.730 --> 00:17:01.740 align:start position:0% we will accept taxes uh in crypto uh 00:17:01.740 --> 00:17:04.490 align:start position:0% we will accept taxes uh in crypto uh it's<00:17:02.040> it's<00:17:02.279> something<00:17:02.579> that<00:17:03.000> we<00:17:03.240> as<00:17:03.480> of<00:17:03.720> as<00:17:04.140> a 00:17:04.490 --> 00:17:04.500 align:start position:0% it's it's something that we as of as a 00:17:04.500 --> 00:17:07.970 align:start position:0% it's it's something that we as of as a tax<00:17:04.559> administration<00:17:05.240> can<00:17:06.240> can<00:17:06.780> do<00:17:07.140> if<00:17:07.620> given 00:17:07.970 --> 00:17:07.980 align:start position:0% tax administration can can do if given 00:17:07.980 --> 00:17:10.549 align:start position:0% tax administration can can do if given legal<00:17:08.400> Authority<00:17:08.880> by<00:17:09.299> Congress<00:17:09.720> we<00:17:10.079> can<00:17:10.260> we 00:17:10.549 --> 00:17:10.559 align:start position:0% legal Authority by Congress we can we 00:17:10.559 --> 00:17:12.770 align:start position:0% legal Authority by Congress we can we can<00:17:10.740> handle<00:17:11.100> it<00:17:11.280> we<00:17:12.179> think<00:17:12.299> it's<00:17:12.540> actually 00:17:12.770 --> 00:17:12.780 align:start position:0% can handle it we think it's actually 00:17:12.780 --> 00:17:16.250 align:start position:0% can handle it we think it's actually very<00:17:13.319> interesting<00:17:13.799> if<00:17:14.400> uh<00:17:14.819> you<00:17:15.540> know<00:17:15.660> if<00:17:15.780> a 00:17:16.250 --> 00:17:16.260 align:start position:0% very interesting if uh you know if a 00:17:16.260 --> 00:17:18.409 align:start position:0% very interesting if uh you know if a firm<00:17:16.620> or<00:17:16.980> if<00:17:17.160> a<00:17:17.400> person<00:17:17.579> wants<00:17:18.179> to<00:17:18.240> be 00:17:18.409 --> 00:17:18.419 align:start position:0% firm or if a person wants to be 00:17:18.419 --> 00:17:20.809 align:start position:0% firm or if a person wants to be associated<00:17:18.959> with<00:17:19.620> a<00:17:19.799> specific<00:17:20.040> wallet<00:17:20.520> or 00:17:20.809 --> 00:17:20.819 align:start position:0% associated with a specific wallet or 00:17:20.819 --> 00:17:23.809 align:start position:0% associated with a specific wallet or sets<00:17:21.179> of<00:17:21.179> wallets<00:17:21.600> because<00:17:22.020> that<00:17:22.319> actually<00:17:22.819> as 00:17:23.809 --> 00:17:23.819 align:start position:0% sets of wallets because that actually as 00:17:23.819 --> 00:17:25.669 align:start position:0% sets of wallets because that actually as you<00:17:24.000> guys<00:17:24.120> know<00:17:24.360> a<00:17:24.959> lot<00:17:25.199> of<00:17:25.260> people<00:17:25.380> still 00:17:25.669 --> 00:17:25.679 align:start position:0% you guys know a lot of people still 00:17:25.679 --> 00:17:29.330 align:start position:0% you guys know a lot of people still think<00:17:25.919> that<00:17:26.220> that<00:17:26.400> crypto<00:17:27.020> is<00:17:28.040> cryptic<00:17:29.040> and 00:17:29.330 --> 00:17:29.340 align:start position:0% think that that crypto is cryptic and 00:17:29.340 --> 00:17:30.830 align:start position:0% think that that crypto is cryptic and that<00:17:29.520> you<00:17:29.700> can't<00:17:29.820> trace<00:17:30.299> stuff<00:17:30.540> we're 00:17:30.830 --> 00:17:30.840 align:start position:0% that you can't trace stuff we're 00:17:30.840 --> 00:17:32.590 align:start position:0% that you can't trace stuff we're actually<00:17:31.080> interested<00:17:31.559> in<00:17:31.799> the<00:17:31.919> traceability 00:17:32.590 --> 00:17:32.600 align:start position:0% actually interested in the traceability 00:17:32.600 --> 00:17:35.870 align:start position:0% actually interested in the traceability of<00:17:33.600> a<00:17:33.960> lot<00:17:34.080> of<00:17:34.260> uh<00:17:34.799> of<00:17:35.039> the<00:17:35.160> cryptocurrencies 00:17:35.870 --> 00:17:35.880 align:start position:0% of a lot of uh of the cryptocurrencies 00:17:35.880 --> 00:17:39.169 align:start position:0% of a lot of uh of the cryptocurrencies and<00:17:36.480> that<00:17:36.660> it<00:17:36.960> that<00:17:37.260> can<00:17:37.500> only<00:17:37.679> be<00:17:38.340> uh<00:17:38.760> good<00:17:39.000> for 00:17:39.169 --> 00:17:39.179 align:start position:0% and that it that can only be uh good for 00:17:39.179 --> 00:17:42.110 align:start position:0% and that it that can only be uh good for us<00:17:39.299> as<00:17:39.539> a<00:17:39.780> tax<00:17:39.900> administration<00:17:40.500> so<00:17:41.039> we're<00:17:41.940> very 00:17:42.110 --> 00:17:42.120 align:start position:0% us as a tax administration so we're very 00:17:42.120 --> 00:17:45.230 align:start position:0% us as a tax administration so we're very open<00:17:42.360> to<00:17:42.840> all<00:17:43.140> of<00:17:43.200> these<00:17:43.380> proposals<00:17:43.980> uh<00:17:44.640> talk 00:17:45.230 --> 00:17:45.240 align:start position:0% open to all of these proposals uh talk 00:17:45.240 --> 00:17:47.029 align:start position:0% open to all of these proposals uh talk to<00:17:45.360> your<00:17:45.480> Congressman<00:17:45.900> or<00:17:46.260> congresswoman 00:17:47.029 --> 00:17:47.039 align:start position:0% to your Congressman or congresswoman 00:17:47.039 --> 00:17:49.010 align:start position:0% to your Congressman or congresswoman there's<00:17:47.400> still<00:17:47.640> time<00:17:47.820> to<00:17:48.120> introduce<00:17:48.600> some 00:17:49.010 --> 00:17:49.020 align:start position:0% there's still time to introduce some 00:17:49.020 --> 00:17:51.350 align:start position:0% there's still time to introduce some Provisions<00:17:49.440> here<00:17:49.799> uh<00:17:50.640> the<00:17:50.880> first<00:17:51.000> one<00:17:51.179> is 00:17:51.350 --> 00:17:51.360 align:start position:0% Provisions here uh the first one is 00:17:51.360 --> 00:17:53.810 align:start position:0% Provisions here uh the first one is we've<00:17:52.140> talked<00:17:52.380> about<00:17:52.500> a<00:17:52.799> lot<00:17:52.980> of<00:17:53.100> taxes<00:17:53.640> right 00:17:53.810 --> 00:17:53.820 align:start position:0% we've talked about a lot of taxes right 00:17:53.820 --> 00:17:55.789 align:start position:0% we've talked about a lot of taxes right but<00:17:54.120> what's<00:17:54.720> your<00:17:55.020> truly<00:17:55.320> Vision<00:17:55.500> about 00:17:55.789 --> 00:17:55.799 align:start position:0% but what's your truly Vision about 00:17:55.799 --> 00:17:58.010 align:start position:0% but what's your truly Vision about crypto<00:17:56.280> like<00:17:56.520> uh<00:17:56.940> would<00:17:57.179> you<00:17:57.360> would<00:17:57.600> you<00:17:57.840> be 00:17:58.010 --> 00:17:58.020 align:start position:0% crypto like uh would you would you be 00:17:58.020 --> 00:18:01.130 align:start position:0% crypto like uh would you would you be considered<00:17:58.559> as<00:17:58.740> a<00:17:58.980> pro<00:17:59.100> crypto<00:17:59.760> person<00:18:00.660> or 00:18:01.130 --> 00:18:01.140 align:start position:0% considered as a pro crypto person or 00:18:01.140 --> 00:18:03.770 align:start position:0% considered as a pro crypto person or what<00:18:01.440> are<00:18:01.559> you<00:18:01.679> are<00:18:02.039> you<00:18:02.220> at<00:18:02.340> the<00:18:02.580> tractor 00:18:03.770 --> 00:18:03.780 align:start position:0% what are you are you at the tractor 00:18:03.780 --> 00:18:05.330 align:start position:0% what are you are you at the tractor um<00:18:03.900> that's<00:18:04.200> one<00:18:04.440> and<00:18:04.679> the<00:18:04.860> other<00:18:04.919> one<00:18:05.100> which 00:18:05.330 --> 00:18:05.340 align:start position:0% um that's one and the other one which 00:18:05.340 --> 00:18:07.789 align:start position:0% um that's one and the other one which more<00:18:05.880> question<00:18:06.360> that<00:18:06.600> I<00:18:06.780> always<00:18:06.960> ask<00:18:07.200> do<00:18:07.620> you 00:18:07.789 --> 00:18:07.799 align:start position:0% more question that I always ask do you 00:18:07.799 --> 00:18:09.470 align:start position:0% more question that I always ask do you hold<00:18:07.980> any<00:18:08.220> crypto 00:18:09.470 --> 00:18:09.480 align:start position:0% hold any crypto 00:18:09.480 --> 00:18:12.650 align:start position:0% hold any crypto do<00:18:09.960> I<00:18:10.320> what<00:18:10.500> do<00:18:10.740> you<00:18:11.100> hold<00:18:11.280> any<00:18:11.460> crypto<00:18:11.880> I've 00:18:12.650 --> 00:18:12.660 align:start position:0% do I what do you hold any crypto I've 00:18:12.660 --> 00:18:16.970 align:start position:0% do I what do you hold any crypto I've I've<00:18:12.780> held<00:18:13.320> it<00:18:13.380> yes<00:18:14.240> yeah<00:18:15.240> oh<00:18:15.660> no<00:18:15.840> for<00:18:16.080> sure<00:18:16.200> I 00:18:16.970 --> 00:18:16.980 align:start position:0% I've held it yes yeah oh no for sure I 00:18:16.980 --> 00:18:19.130 align:start position:0% I've held it yes yeah oh no for sure I um I<00:18:17.580> mean<00:18:17.700> look<00:18:17.880> I<00:18:18.240> think<00:18:18.539> it's<00:18:18.660> a<00:18:18.780> technology 00:18:19.130 --> 00:18:19.140 align:start position:0% um I mean look I think it's a technology 00:18:19.140 --> 00:18:21.169 align:start position:0% um I mean look I think it's a technology that's<00:18:19.440> here<00:18:19.679> to<00:18:19.919> stay<00:18:20.100> uh<00:18:20.700> I<00:18:20.880> think<00:18:21.000> it's 00:18:21.169 --> 00:18:21.179 align:start position:0% that's here to stay uh I think it's 00:18:21.179 --> 00:18:24.350 align:start position:0% that's here to stay uh I think it's promising<00:18:21.720> I<00:18:22.320> think<00:18:22.500> the<00:18:23.100> I<00:18:23.880> think<00:18:24.000> there's<00:18:24.179> a 00:18:24.350 --> 00:18:24.360 align:start position:0% promising I think the I think there's a 00:18:24.360 --> 00:18:26.750 align:start position:0% promising I think the I think there's a lot<00:18:24.480> of<00:18:24.539> misconceptions<00:18:25.380> about<00:18:25.679> crypto<00:18:26.280> I 00:18:26.750 --> 00:18:26.760 align:start position:0% lot of misconceptions about crypto I 00:18:26.760 --> 00:18:29.390 align:start position:0% lot of misconceptions about crypto I think<00:18:27.120> we<00:18:27.900> should<00:18:28.200> help<00:18:28.860> everyone<00:18:29.039> understand 00:18:29.390 --> 00:18:29.400 align:start position:0% think we should help everyone understand 00:18:29.400 --> 00:18:32.210 align:start position:0% think we should help everyone understand that<00:18:29.940> this<00:18:30.240> is<00:18:30.360> a<00:18:30.480> promising<00:18:30.840> technology<00:18:31.440> I<00:18:32.039> I 00:18:32.210 --> 00:18:32.220 align:start position:0% that this is a promising technology I I 00:18:32.220 --> 00:18:35.150 align:start position:0% that this is a promising technology I I look<00:18:32.460> forward<00:18:32.820> to<00:18:33.559> the<00:18:34.559> forthcoming 00:18:35.150 --> 00:18:35.160 align:start position:0% look forward to the forthcoming 00:18:35.160 --> 00:18:37.430 align:start position:0% look forward to the forthcoming regulation<00:18:35.700> that<00:18:36.120> various<00:18:36.600> other<00:18:37.080> government 00:18:37.430 --> 00:18:37.440 align:start position:0% regulation that various other government 00:18:37.440 --> 00:18:40.070 align:start position:0% regulation that various other government agencies<00:18:38.280> or<00:18:38.580> which<00:18:38.880> I<00:18:39.059> have<00:18:39.179> no<00:18:39.480> control<00:18:39.660> I 00:18:40.070 --> 00:18:40.080 align:start position:0% agencies or which I have no control I 00:18:40.080 --> 00:18:42.890 align:start position:0% agencies or which I have no control I should<00:18:40.380> say<00:18:40.559> that<00:18:40.740> uh<00:18:41.640> will<00:18:41.940> will<00:18:42.240> issue<00:18:42.660> at 00:18:42.890 --> 00:18:42.900 align:start position:0% should say that uh will will issue at 00:18:42.900 --> 00:18:44.270 align:start position:0% should say that uh will will issue at some<00:18:43.020> point<00:18:43.140> I<00:18:43.380> think<00:18:43.500> it<00:18:43.620> should<00:18:43.799> be<00:18:43.919> sooner 00:18:44.270 --> 00:18:44.280 align:start position:0% some point I think it should be sooner 00:18:44.280 --> 00:18:46.970 align:start position:0% some point I think it should be sooner rather<00:18:44.520> than<00:18:44.640> later<00:18:44.880> I<00:18:45.780> think<00:18:45.900> there's<00:18:46.260> uh<00:18:46.679> one 00:18:46.970 --> 00:18:46.980 align:start position:0% rather than later I think there's uh one 00:18:46.980 --> 00:18:48.590 align:start position:0% rather than later I think there's uh one of<00:18:47.100> the<00:18:47.280> developments<00:18:47.880> that<00:18:48.059> that<00:18:48.240> I<00:18:48.419> find 00:18:48.590 --> 00:18:48.600 align:start position:0% of the developments that that I find 00:18:48.600 --> 00:18:51.950 align:start position:0% of the developments that that I find most<00:18:48.900> exciting<00:18:49.440> is<00:18:50.039> uh<00:18:50.419> uh<00:18:51.419> Central<00:18:51.600> Bank 00:18:51.950 --> 00:18:51.960 align:start position:0% most exciting is uh uh Central Bank 00:18:51.960 --> 00:18:55.070 align:start position:0% most exciting is uh uh Central Bank issued<00:18:52.559> you<00:18:52.919> know<00:18:52.980> digital<00:18:53.340> currencies<00:18:53.880> I<00:18:54.600> uh 00:18:55.070 --> 00:18:55.080 align:start position:0% issued you know digital currencies I uh 00:18:55.080 --> 00:18:58.250 align:start position:0% issued you know digital currencies I uh I<00:18:55.740> I<00:18:55.740> was<00:18:56.220> excited<00:18:56.700> like<00:18:57.120> I<00:18:57.480> suppose<00:18:57.780> many<00:18:58.080> of 00:18:58.250 --> 00:18:58.260 align:start position:0% I I was excited like I suppose many of 00:18:58.260 --> 00:19:00.350 align:start position:0% I I was excited like I suppose many of you<00:18:58.380> were<00:18:58.559> when<00:18:58.919> the<00:18:59.100> Central<00:18:59.220> Bank<00:18:59.580> announced 00:19:00.350 --> 00:19:00.360 align:start position:0% you were when the Central Bank announced 00:19:00.360 --> 00:19:03.890 align:start position:0% you were when the Central Bank announced that<00:19:00.840> they<00:19:01.740> are<00:19:01.980> studying<00:19:02.580> the<00:19:02.760> the<00:19:02.940> issue<00:19:03.419> I 00:19:03.890 --> 00:19:03.900 align:start position:0% that they are studying the the issue I 00:19:03.900 --> 00:19:06.409 align:start position:0% that they are studying the the issue I think<00:19:04.080> uh<00:19:04.679> I<00:19:05.580> think<00:19:05.640> I<00:19:05.880> think<00:19:06.000> only<00:19:06.179> good 00:19:06.409 --> 00:19:06.419 align:start position:0% think uh I think I think only good 00:19:06.419 --> 00:19:08.870 align:start position:0% think uh I think I think only good things<00:19:06.600> can<00:19:06.840> come<00:19:07.020> from<00:19:07.320> uh<00:19:07.980> from<00:19:08.340> from<00:19:08.580> this 00:19:08.870 --> 00:19:08.880 align:start position:0% things can come from uh from from this 00:19:08.880 --> 00:19:09.950 align:start position:0% things can come from uh from from this industry 00:19:09.950 --> 00:19:09.960 align:start position:0% industry 00:19:09.960 --> 00:19:12.110 align:start position:0% industry okay<00:19:10.440> I<00:19:10.740> have<00:19:10.860> another<00:19:11.039> question<00:19:11.460> so<00:19:11.880> it's 00:19:12.110 --> 00:19:12.120 align:start position:0% okay I have another question so it's 00:19:12.120 --> 00:19:15.409 align:start position:0% okay I have another question so it's more<00:19:12.360> about<00:19:12.539> stable<00:19:12.960> coins<00:19:13.380> and<00:19:13.559> usdt<00:19:14.100> usdc<00:19:14.820> so 00:19:15.409 --> 00:19:15.419 align:start position:0% more about stable coins and usdt usdc so 00:19:15.419 --> 00:19:17.630 align:start position:0% more about stable coins and usdt usdc so if<00:19:15.780> I<00:19:16.080> get<00:19:16.260> my<00:19:16.440> pesos<00:19:16.799> and<00:19:17.039> always<00:19:17.220> convert 00:19:17.630 --> 00:19:17.640 align:start position:0% if I get my pesos and always convert 00:19:17.640 --> 00:19:19.430 align:start position:0% if I get my pesos and always convert them<00:19:17.760> into<00:19:17.940> US<00:19:18.240> dollars<00:19:18.660> or<00:19:18.960> well<00:19:19.140> in<00:19:19.320> this 00:19:19.430 --> 00:19:19.440 align:start position:0% them into US dollars or well in this 00:19:19.440 --> 00:19:22.010 align:start position:0% them into US dollars or well in this case<00:19:19.559> usdc<00:19:20.100> or<00:19:20.220> usdt<00:19:20.640> and<00:19:21.059> then<00:19:21.179> I<00:19:21.419> when<00:19:21.720> I<00:19:21.900> need 00:19:22.010 --> 00:19:22.020 align:start position:0% case usdc or usdt and then I when I need 00:19:22.020 --> 00:19:23.930 align:start position:0% case usdc or usdt and then I when I need the<00:19:22.260> money<00:19:22.679> back<00:19:22.860> in<00:19:23.039> Colombia<00:19:23.460> I<00:19:23.640> transfer 00:19:23.930 --> 00:19:23.940 align:start position:0% the money back in Colombia I transfer 00:19:23.940 --> 00:19:26.029 align:start position:0% the money back in Colombia I transfer them<00:19:24.120> back<00:19:24.299> to<00:19:24.660> my<00:19:24.840> account<00:19:25.020> what<00:19:25.799> would<00:19:25.980> be 00:19:26.029 --> 00:19:26.039 align:start position:0% them back to my account what would be 00:19:26.039 --> 00:19:27.590 align:start position:0% them back to my account what would be that<00:19:26.220> tax<00:19:26.460> incentive<00:19:27.000> like<00:19:27.240> implications 00:19:27.590 --> 00:19:27.600 align:start position:0% that tax incentive like implications 00:19:27.600 --> 00:19:29.390 align:start position:0% that tax incentive like implications there<00:19:27.840> because<00:19:28.020> you<00:19:28.200> said<00:19:28.380> like<00:19:29.039> it's<00:19:29.280> like 00:19:29.390 --> 00:19:29.400 align:start position:0% there because you said like it's like 00:19:29.400 --> 00:19:31.730 align:start position:0% there because you said like it's like buying<00:19:29.760> dollars<00:19:30.120> you<00:19:30.299> know<00:19:30.419> Cambio<00:19:31.320> and<00:19:31.679> then 00:19:31.730 --> 00:19:31.740 align:start position:0% buying dollars you know Cambio and then 00:19:31.740 --> 00:19:33.650 align:start position:0% buying dollars you know Cambio and then just<00:19:31.919> like<00:19:32.039> either<00:19:32.460> spending<00:19:32.940> in<00:19:33.059> abroad<00:19:33.480> or 00:19:33.650 --> 00:19:33.660 align:start position:0% just like either spending in abroad or 00:19:33.660 --> 00:19:35.390 align:start position:0% just like either spending in abroad or just<00:19:33.840> having<00:19:34.020> them<00:19:34.260> in<00:19:34.500> your<00:19:34.679> house<00:19:35.160> or 00:19:35.390 --> 00:19:35.400 align:start position:0% just having them in your house or 00:19:35.400 --> 00:19:36.590 align:start position:0% just having them in your house or whatever<00:19:35.580> so<00:19:36.059> what<00:19:36.240> would<00:19:36.360> be<00:19:36.480> the 00:19:36.590 --> 00:19:36.600 align:start position:0% whatever so what would be the 00:19:36.600 --> 00:19:37.970 align:start position:0% whatever so what would be the implications<00:19:36.960> there 00:19:37.970 --> 00:19:37.980 align:start position:0% implications there 00:19:37.980 --> 00:19:41.690 align:start position:0% implications there yeah<00:19:38.640> so<00:19:39.000> uh<00:19:39.360> something<00:19:39.600> like<00:19:39.840> like<00:19:40.100> usdt<00:19:41.100> or 00:19:41.690 --> 00:19:41.700 align:start position:0% yeah so uh something like like usdt or 00:19:41.700 --> 00:19:44.330 align:start position:0% yeah so uh something like like usdt or uh<00:19:42.120> other<00:19:42.360> stable<00:19:42.720> currencies<00:19:43.260> uh<00:19:44.100> stable 00:19:44.330 --> 00:19:44.340 align:start position:0% uh other stable currencies uh stable 00:19:44.340 --> 00:19:48.950 align:start position:0% uh other stable currencies uh stable coins<00:19:44.820> are<00:19:45.500> they<00:19:46.500> are<00:19:46.679> not<00:19:46.980> legal<00:19:47.700> tender<00:19:47.960> uh 00:19:48.950 --> 00:19:48.960 align:start position:0% coins are they are not legal tender uh 00:19:48.960 --> 00:19:51.950 align:start position:0% coins are they are not legal tender uh here<00:19:49.200> or<00:19:49.620> anywhere<00:19:50.039> so<00:19:50.460> they<00:19:50.820> are<00:19:51.059> uh<00:19:51.720> under 00:19:51.950 --> 00:19:51.960 align:start position:0% here or anywhere so they are uh under 00:19:51.960 --> 00:19:55.430 align:start position:0% here or anywhere so they are uh under Colombian<00:19:53.000> legislation<00:19:54.000> and<00:19:54.660> and<00:19:54.840> then<00:19:55.020> rules 00:19:55.430 --> 00:19:55.440 align:start position:0% Colombian legislation and and then rules 00:19:55.440 --> 00:19:57.830 align:start position:0% Colombian legislation and and then rules uh<00:19:55.860> they<00:19:56.039> are<00:19:56.220> considered<00:19:56.760> uh<00:19:57.660> just 00:19:57.830 --> 00:19:57.840 align:start position:0% uh they are considered uh just 00:19:57.840 --> 00:19:59.690 align:start position:0% uh they are considered uh just intangible<00:19:58.500> assets<00:19:58.919> so<00:19:59.160> the<00:19:59.280> way<00:19:59.460> it<00:19:59.580> would 00:19:59.690 --> 00:19:59.700 align:start position:0% intangible assets so the way it would 00:19:59.700 --> 00:20:04.310 align:start position:0% intangible assets so the way it would work<00:19:59.880> is<00:20:00.240> say<00:20:00.660> you<00:20:01.260> so<00:20:01.799> suppose<00:20:02.220> you<00:20:02.520> you<00:20:02.940> buy<00:20:03.480> I 00:20:04.310 --> 00:20:04.320 align:start position:0% work is say you so suppose you you buy I 00:20:04.320 --> 00:20:06.650 align:start position:0% work is say you so suppose you you buy I don't<00:20:04.440> know<00:20:04.520> you<00:20:05.520> uh<00:20:06.000> like<00:20:06.120> you<00:20:06.299> go<00:20:06.419> through<00:20:06.539> a 00:20:06.650 --> 00:20:06.660 align:start position:0% don't know you uh like you go through a 00:20:06.660 --> 00:20:08.090 align:start position:0% don't know you uh like you go through a whole<00:20:06.780> process<00:20:07.080> right<00:20:07.260> you<00:20:07.500> deposit<00:20:07.919> some 00:20:08.090 --> 00:20:08.100 align:start position:0% whole process right you deposit some 00:20:08.100 --> 00:20:11.210 align:start position:0% whole process right you deposit some Pesos<00:20:08.520> into<00:20:08.940> a<00:20:09.299> local<00:20:09.480> platform<00:20:10.020> you<00:20:10.799> use<00:20:10.980> it 00:20:11.210 --> 00:20:11.220 align:start position:0% Pesos into a local platform you use it 00:20:11.220 --> 00:20:14.270 align:start position:0% Pesos into a local platform you use it to<00:20:11.400> buy<00:20:12.059> uh<00:20:12.480> Bitcoin<00:20:12.960> which<00:20:13.320> then<00:20:13.559> you<00:20:13.799> in<00:20:14.100> a 00:20:14.270 --> 00:20:14.280 align:start position:0% to buy uh Bitcoin which then you in a 00:20:14.280 --> 00:20:16.130 align:start position:0% to buy uh Bitcoin which then you in a local<00:20:14.400> platform<00:20:14.880> which<00:20:15.179> then<00:20:15.539> you<00:20:15.720> transfer 00:20:16.130 --> 00:20:16.140 align:start position:0% local platform which then you transfer 00:20:16.140 --> 00:20:20.029 align:start position:0% local platform which then you transfer to<00:20:16.760> a<00:20:17.760> platform<00:20:18.299> abroad<00:20:19.080> and<00:20:19.500> you<00:20:19.679> use<00:20:19.860> it 00:20:20.029 --> 00:20:20.039 align:start position:0% to a platform abroad and you use it 00:20:20.039 --> 00:20:23.150 align:start position:0% to a platform abroad and you use it there<00:20:20.400> to<00:20:20.760> buy<00:20:21.059> some<00:20:21.360> usdt<00:20:22.020> and<00:20:22.740> then<00:20:22.860> you<00:20:22.980> do 00:20:23.150 --> 00:20:23.160 align:start position:0% there to buy some usdt and then you do 00:20:23.160 --> 00:20:24.590 align:start position:0% there to buy some usdt and then you do some<00:20:23.340> more<00:20:23.520> stuff<00:20:23.700> with<00:20:23.940> it<00:20:24.059> and<00:20:24.299> then<00:20:24.419> you 00:20:24.590 --> 00:20:24.600 align:start position:0% some more stuff with it and then you 00:20:24.600 --> 00:20:26.930 align:start position:0% some more stuff with it and then you bring<00:20:24.840> it<00:20:24.960> back<00:20:25.140> the<00:20:25.860> way<00:20:25.980> it<00:20:26.220> would<00:20:26.340> work<00:20:26.580> in 00:20:26.930 --> 00:20:26.940 align:start position:0% bring it back the way it would work in 00:20:26.940 --> 00:20:30.710 align:start position:0% bring it back the way it would work in terms<00:20:27.240> of<00:20:27.299> uh<00:20:27.840> of<00:20:28.140> it<00:20:28.200> being<00:20:28.440> taxed<00:20:28.980> is<00:20:29.720> you 00:20:30.710 --> 00:20:30.720 align:start position:0% terms of uh of it being taxed is you 00:20:30.720 --> 00:20:32.690 align:start position:0% terms of uh of it being taxed is you there's<00:20:31.320> a<00:20:31.620> certain<00:20:31.740> amount<00:20:31.919> of<00:20:32.100> in<00:20:32.280> pesos 00:20:32.690 --> 00:20:32.700 align:start position:0% there's a certain amount of in pesos 00:20:32.700 --> 00:20:35.750 align:start position:0% there's a certain amount of in pesos that<00:20:33.000> you<00:20:33.059> paid<00:20:33.380> uh<00:20:34.380> at<00:20:34.919> the<00:20:35.160> the<00:20:35.340> exchange 00:20:35.750 --> 00:20:35.760 align:start position:0% that you paid uh at the the exchange 00:20:35.760 --> 00:20:38.690 align:start position:0% that you paid uh at the the exchange rate<00:20:35.940> the<00:20:36.360> official<00:20:37.020> exchange<00:20:37.500> rate<00:20:37.679> of<00:20:37.919> that 00:20:38.690 --> 00:20:38.700 align:start position:0% rate the official exchange rate of that 00:20:38.700 --> 00:20:43.669 align:start position:0% rate the official exchange rate of that they<00:20:39.000> uh 00:20:43.669 --> 00:20:43.679 align:start position:0% 00:20:43.679 --> 00:20:46.850 align:start position:0% um<00:20:43.799> and<00:20:44.520> then<00:20:44.700> when<00:20:45.480> you<00:20:45.840> transform<00:20:46.380> it<00:20:46.620> back 00:20:46.850 --> 00:20:46.860 align:start position:0% um and then when you transform it back 00:20:46.860 --> 00:20:49.130 align:start position:0% um and then when you transform it back into<00:20:47.039> Pesos<00:20:47.580> at<00:20:47.940> the<00:20:48.059> very<00:20:48.240> end<00:20:48.480> it's<00:20:48.960> the 00:20:49.130 --> 00:20:49.140 align:start position:0% into Pesos at the very end it's the 00:20:49.140 --> 00:20:50.990 align:start position:0% into Pesos at the very end it's the difference<00:20:49.260> between<00:20:49.559> the<00:20:49.860> pesos<00:20:50.220> you<00:20:50.520> got<00:20:50.640> at 00:20:50.990 --> 00:20:51.000 align:start position:0% difference between the pesos you got at 00:20:51.000 --> 00:20:53.450 align:start position:0% difference between the pesos you got at the<00:20:51.120> very<00:20:51.299> end<00:20:51.480> and<00:20:52.320> the<00:20:52.500> passive<00:20:52.860> value<00:20:53.160> of 00:20:53.450 --> 00:20:53.460 align:start position:0% the very end and the passive value of 00:20:53.460 --> 00:20:55.610 align:start position:0% the very end and the passive value of the<00:20:53.640> original<00:20:53.820> asset<00:20:54.419> that's<00:20:54.780> that<00:20:55.080> would<00:20:55.500> be 00:20:55.610 --> 00:20:55.620 align:start position:0% the original asset that's that would be 00:20:55.620 --> 00:20:59.270 align:start position:0% the original asset that's that would be the<00:20:55.860> the<00:20:56.460> the<00:20:56.700> capital<00:20:57.059> gains<00:20:57.600> so<00:20:57.840> to<00:20:57.960> speak<00:20:58.280> uh 00:20:59.270 --> 00:20:59.280 align:start position:0% the the the capital gains so to speak uh 00:20:59.280 --> 00:21:01.310 align:start position:0% the the the capital gains so to speak uh you've<00:20:59.700> stated<00:20:59.940> your<00:21:00.240> position<00:21:00.419> very<00:21:00.900> clearly 00:21:01.310 --> 00:21:01.320 align:start position:0% you've stated your position very clearly 00:21:01.320 --> 00:21:04.610 align:start position:0% you've stated your position very clearly about<00:21:01.620> the<00:21:02.160> the<00:21:02.640> crypto<00:21:03.120> coins<00:21:03.600> and<00:21:04.080> all<00:21:04.380> these 00:21:04.610 --> 00:21:04.620 align:start position:0% about the the crypto coins and all these 00:21:04.620 --> 00:21:07.850 align:start position:0% about the the crypto coins and all these coins<00:21:04.860> that<00:21:05.160> are<00:21:05.340> native<00:21:06.120> natively<00:21:06.840> digital 00:21:07.850 --> 00:21:07.860 align:start position:0% coins that are native natively digital 00:21:07.860 --> 00:21:10.190 align:start position:0% coins that are native natively digital but<00:21:08.580> there<00:21:08.880> are<00:21:09.059> also<00:21:09.240> other<00:21:09.360> type<00:21:09.660> of<00:21:09.780> tokens 00:21:10.190 --> 00:21:10.200 align:start position:0% but there are also other type of tokens 00:21:10.200 --> 00:21:12.710 align:start position:0% but there are also other type of tokens that<00:21:10.679> represent<00:21:11.039> for<00:21:11.460> example<00:21:11.700> real<00:21:12.480> life 00:21:12.710 --> 00:21:12.720 align:start position:0% that represent for example real life 00:21:12.720 --> 00:21:15.409 align:start position:0% that represent for example real life assets<00:21:13.200> such<00:21:13.679> as<00:21:13.860> houses<00:21:14.220> and<00:21:14.760> other<00:21:15.059> kind<00:21:15.299> of 00:21:15.409 --> 00:21:15.419 align:start position:0% assets such as houses and other kind of 00:21:15.419 --> 00:21:18.529 align:start position:0% assets such as houses and other kind of things<00:21:15.600> uh<00:21:16.500> is<00:21:16.799> your<00:21:17.039> take<00:21:17.460> the<00:21:18.000> same<00:21:18.179> for 00:21:18.529 --> 00:21:18.539 align:start position:0% things uh is your take the same for 00:21:18.539 --> 00:21:21.470 align:start position:0% things uh is your take the same for those<00:21:18.780> types<00:21:19.080> of<00:21:19.200> assets<00:21:19.740> that<00:21:20.220> have<00:21:20.460> a<00:21:21.240> real 00:21:21.470 --> 00:21:21.480 align:start position:0% those types of assets that have a real 00:21:21.480 --> 00:21:24.169 align:start position:0% those types of assets that have a real asset<00:21:22.260> like<00:21:22.500> as<00:21:22.679> an<00:21:22.860> underbuying<00:21:23.460> value<00:21:23.640> an 00:21:24.169 --> 00:21:24.179 align:start position:0% asset like as an underbuying value an 00:21:24.179 --> 00:21:27.529 align:start position:0% asset like as an underbuying value an underlying<00:21:24.720> value<00:21:24.840> I'm<00:21:25.080> sorry<00:21:25.760> in<00:21:26.760> real<00:21:27.240> life 00:21:27.529 --> 00:21:27.539 align:start position:0% underlying value I'm sorry in real life 00:21:27.539 --> 00:21:30.230 align:start position:0% underlying value I'm sorry in real life but<00:21:28.020> they're<00:21:28.200> just<00:21:28.440> represented<00:21:29.039> digitally<00:21:29.460> I 00:21:30.230 --> 00:21:30.240 align:start position:0% but they're just represented digitally I 00:21:30.240 --> 00:21:32.630 align:start position:0% but they're just represented digitally I like<00:21:30.419> the<00:21:30.659> technology<00:21:31.080> uh<00:21:31.860> look<00:21:32.039> I<00:21:32.280> just<00:21:32.400> run 00:21:32.630 --> 00:21:32.640 align:start position:0% like the technology uh look I just run 00:21:32.640 --> 00:21:34.190 align:start position:0% like the technology uh look I just run the<00:21:32.820> tax<00:21:32.940> administration<00:21:33.480> like<00:21:33.780> those<00:21:33.960> are 00:21:34.190 --> 00:21:34.200 align:start position:0% the tax administration like those are 00:21:34.200 --> 00:21:37.490 align:start position:0% the tax administration like those are issues<00:21:34.500> for<00:21:34.860> the<00:21:35.220> uh<00:21:35.940> for<00:21:36.480> for<00:21:36.780> various 00:21:37.490 --> 00:21:37.500 align:start position:0% issues for the uh for for various 00:21:37.500 --> 00:21:40.430 align:start position:0% issues for the uh for for various government<00:21:37.799> entities<00:21:38.280> right<00:21:38.760> like<00:21:39.120> uh<00:21:39.659> I 00:21:40.430 --> 00:21:40.440 align:start position:0% government entities right like uh I 00:21:40.440 --> 00:21:43.549 align:start position:0% government entities right like uh I think<00:21:40.500> it's<00:21:40.679> exciting<00:21:41.159> to<00:21:41.580> uh<00:21:41.940> to<00:21:42.240> see<00:21:42.419> how<00:21:42.900> uh 00:21:43.549 --> 00:21:43.559 align:start position:0% think it's exciting to uh to see how uh 00:21:43.559 --> 00:21:46.190 align:start position:0% think it's exciting to uh to see how uh you<00:21:44.100> know<00:21:44.220> ownership<00:21:44.640> Registries<00:21:45.419> uh<00:21:45.960> would 00:21:46.190 --> 00:21:46.200 align:start position:0% you know ownership Registries uh would 00:21:46.200 --> 00:21:48.830 align:start position:0% you know ownership Registries uh would work<00:21:46.500> uh<00:21:47.159> how<00:21:47.460> the<00:21:47.760> financial<00:21:48.179> regulation 00:21:48.830 --> 00:21:48.840 align:start position:0% work uh how the financial regulation 00:21:48.840 --> 00:21:52.250 align:start position:0% work uh how the financial regulation really<00:21:49.260> is<00:21:49.620> what<00:21:49.980> uh<00:21:50.640> as<00:21:50.820> we<00:21:50.940> all<00:21:51.059> know<00:21:51.240> uh<00:21:51.900> is 00:21:52.250 --> 00:21:52.260 align:start position:0% really is what uh as we all know uh is 00:21:52.260 --> 00:21:55.730 align:start position:0% really is what uh as we all know uh is necessary<00:21:52.799> for<00:21:53.520> uh<00:21:54.120> for<00:21:54.419> this<00:21:54.600> industry<00:21:55.020> to<00:21:55.500> to 00:21:55.730 --> 00:21:55.740 align:start position:0% necessary for uh for this industry to to 00:21:55.740 --> 00:21:58.850 align:start position:0% necessary for uh for this industry to to have<00:21:56.280> a<00:21:56.520> more<00:21:56.580> solid<00:21:56.940> footing<00:21:57.480> uh<00:21:58.020> I<00:21:58.200> and<00:21:58.380> I<00:21:58.740> do 00:21:58.850 --> 00:21:58.860 align:start position:0% have a more solid footing uh I and I do 00:21:58.860 --> 00:22:00.950 align:start position:0% have a more solid footing uh I and I do hope<00:21:58.980> and<00:21:59.280> I<00:21:59.880> know<00:21:59.940> that<00:22:00.299> that<00:22:00.659> the<00:22:00.840> people 00:22:00.950 --> 00:22:00.960 align:start position:0% hope and I know that that the people 00:22:00.960 --> 00:22:03.110 align:start position:0% hope and I know that that the people involved<00:22:01.380> in<00:22:01.500> this<00:22:01.679> uh<00:22:02.039> understand<00:22:02.340> the<00:22:02.820> the 00:22:03.110 --> 00:22:03.120 align:start position:0% involved in this uh understand the the 00:22:03.120 --> 00:22:05.630 align:start position:0% involved in this uh understand the the issue<00:22:03.419> and<00:22:03.539> they're<00:22:03.659> working<00:22:03.900> towards<00:22:04.640> uh 00:22:05.630 --> 00:22:05.640 align:start position:0% issue and they're working towards uh 00:22:05.640 --> 00:22:08.210 align:start position:0% issue and they're working towards uh making<00:22:06.000> things<00:22:06.419> like<00:22:06.720> that<00:22:06.900> possible<00:22:07.500> uh<00:22:07.799> I 00:22:08.210 --> 00:22:08.220 align:start position:0% making things like that possible uh I 00:22:08.220 --> 00:22:09.409 align:start position:0% making things like that possible uh I think<00:22:08.340> I<00:22:08.520> think<00:22:08.640> in<00:22:08.820> general<00:22:08.940> it's<00:22:09.240> an 00:22:09.409 --> 00:22:09.419 align:start position:0% think I think in general it's an 00:22:09.419 --> 00:22:11.570 align:start position:0% think I think in general it's an exciting<00:22:09.780> technology<00:22:10.320> and<00:22:10.559> I<00:22:10.799> I<00:22:11.039> also<00:22:11.460> think 00:22:11.570 --> 00:22:11.580 align:start position:0% exciting technology and I I also think 00:22:11.580 --> 00:22:14.570 align:start position:0% exciting technology and I I also think that<00:22:11.940> uh<00:22:12.780> we<00:22:13.140> we<00:22:13.380> still<00:22:13.740> we're<00:22:13.980> still<00:22:14.400> trying 00:22:14.570 --> 00:22:14.580 align:start position:0% that uh we we still we're still trying 00:22:14.580 --> 00:22:17.330 align:start position:0% that uh we we still we're still trying to<00:22:14.820> figure<00:22:15.000> out<00:22:15.360> all<00:22:16.080> the<00:22:16.200> possible<00:22:16.500> ways<00:22:16.980> in 00:22:17.330 --> 00:22:17.340 align:start position:0% to figure out all the possible ways in 00:22:17.340 --> 00:22:20.210 align:start position:0% to figure out all the possible ways in which<00:22:17.640> uh<00:22:18.419> the<00:22:18.659> technology<00:22:19.020> can<00:22:19.320> be<00:22:19.440> used 00:22:20.210 --> 00:22:20.220 align:start position:0% which uh the technology can be used 00:22:20.220 --> 00:22:23.029 align:start position:0% which uh the technology can be used so<00:22:20.700> I<00:22:21.000> I'm<00:22:21.480> sure<00:22:21.780> there's<00:22:21.960> more<00:22:22.200> to<00:22:22.320> come<00:22:22.500> and 00:22:23.029 --> 00:22:23.039 align:start position:0% so I I'm sure there's more to come and 00:22:23.039 --> 00:22:24.710 align:start position:0% so I I'm sure there's more to come and then<00:22:23.159> those<00:22:23.400> are<00:22:23.580> good<00:22:23.820> examples<00:22:24.179> of<00:22:24.360> what<00:22:24.539> we 00:22:24.710 --> 00:22:24.720 align:start position:0% then those are good examples of what we 00:22:24.720 --> 00:22:27.350 align:start position:0% then those are good examples of what we could<00:22:24.840> see<00:22:24.960> oh<00:22:25.440> the<00:22:25.679> taxation<00:22:26.100> okay<00:22:26.580> so<00:22:27.059> when 00:22:27.350 --> 00:22:27.360 align:start position:0% could see oh the taxation okay so when 00:22:27.360 --> 00:22:29.690 align:start position:0% could see oh the taxation okay so when you<00:22:27.480> have<00:22:27.600> underlying<00:22:28.260> assets 00:22:29.690 --> 00:22:29.700 align:start position:0% you have underlying assets 00:22:29.700 --> 00:22:31.490 align:start position:0% you have underlying assets um<00:22:29.840> well 00:22:31.490 --> 00:22:31.500 align:start position:0% um well 00:22:31.500 --> 00:22:34.070 align:start position:0% um well um<00:22:31.620> in<00:22:32.280> in<00:22:32.400> in<00:22:32.580> that<00:22:33.179> case 00:22:34.070 --> 00:22:34.080 align:start position:0% um in in in that case 00:22:34.080 --> 00:22:35.810 align:start position:0% um in in in that case yeah<00:22:34.620> basically 00:22:35.810 --> 00:22:35.820 align:start position:0% yeah basically 00:22:35.820 --> 00:22:37.669 align:start position:0% yeah basically the<00:22:36.360> difference<00:22:36.480> between<00:22:36.780> the<00:22:37.080> peso<00:22:37.440> price 00:22:37.669 --> 00:22:37.679 align:start position:0% the difference between the peso price 00:22:37.679 --> 00:22:41.390 align:start position:0% the difference between the peso price when<00:22:38.159> you<00:22:38.880> invested<00:22:39.840> in<00:22:40.080> the<00:22:40.320> peso<00:22:40.860> price<00:22:41.039> when 00:22:41.390 --> 00:22:41.400 align:start position:0% when you invested in the peso price when 00:22:41.400 --> 00:22:43.909 align:start position:0% when you invested in the peso price when you<00:22:41.580> finally<00:22:41.880> sold<00:22:42.120> it<00:22:42.360> that's<00:22:43.260> that's<00:22:43.620> what 00:22:43.909 --> 00:22:43.919 align:start position:0% you finally sold it that's that's what 00:22:43.919 --> 00:22:46.789 align:start position:0% you finally sold it that's that's what will<00:22:44.100> be<00:22:44.280> taxed<00:22:44.640> and<00:22:44.880> it<00:22:45.059> will<00:22:45.179> be<00:22:45.299> taxed<00:22:45.780> as<00:22:46.320> uh 00:22:46.789 --> 00:22:46.799 align:start position:0% will be taxed and it will be taxed as uh 00:22:46.799 --> 00:22:49.549 align:start position:0% will be taxed and it will be taxed as uh uh<00:22:47.760> either<00:22:47.940> capital<00:22:48.240> gains<00:22:48.780> or<00:22:49.020> ordinary 00:22:49.549 --> 00:22:49.559 align:start position:0% uh either capital gains or ordinary 00:22:49.559 --> 00:22:50.400 align:start position:0% uh either capital gains or ordinary income 00:22:50.400 --> 00:22:50.410 align:start position:0% income 00:22:50.410 --> 00:22:52.210 align:start position:0% income [Music] 00:22:52.210 --> 00:22:52.220 align:start position:0% [Music] 00:22:52.220 --> 00:22:55.210 align:start position:0% [Music] meaningless 00:22:55.210 --> 00:22:55.220 align:start position:0% meaningless 00:22:55.220 --> 00:22:59.630 align:start position:0% meaningless you<00:22:56.220> mentioned<00:22:56.520> the<00:22:56.760> cvdc<00:22:57.419> and<00:22:58.320> there<00:22:59.220> is<00:22:59.400> a 00:22:59.630 --> 00:22:59.640 align:start position:0% you mentioned the cvdc and there is a 00:22:59.640 --> 00:23:03.049 align:start position:0% you mentioned the cvdc and there is a incentive<00:23:00.240> for<00:23:00.720> the<00:23:00.960> tax<00:23:01.440> authority<00:23:02.400> to<00:23:02.820> look 00:23:03.049 --> 00:23:03.059 align:start position:0% incentive for the tax authority to look 00:23:03.059 --> 00:23:06.710 align:start position:0% incentive for the tax authority to look everything<00:23:03.419> that<00:23:03.780> the<00:23:03.900> citizens<00:23:04.380> do<00:23:05.419> for<00:23:06.419> tax 00:23:06.710 --> 00:23:06.720 align:start position:0% everything that the citizens do for tax 00:23:06.720 --> 00:23:09.590 align:start position:0% everything that the citizens do for tax purposes<00:23:07.260> in<00:23:07.799> in<00:23:07.980> that<00:23:08.220> sense<00:23:08.460> what<00:23:09.299> do<00:23:09.480> you 00:23:09.590 --> 00:23:09.600 align:start position:0% purposes in in that sense what do you 00:23:09.600 --> 00:23:11.390 align:start position:0% purposes in in that sense what do you think<00:23:09.840> what<00:23:10.200> is<00:23:10.320> your<00:23:10.500> position<00:23:10.620> about<00:23:11.039> the 00:23:11.390 --> 00:23:11.400 align:start position:0% think what is your position about the 00:23:11.400 --> 00:23:14.390 align:start position:0% think what is your position about the privacy<00:23:11.880> of<00:23:12.780> of<00:23:12.780> the<00:23:13.380> citizens<00:23:13.799> what<00:23:14.039> is<00:23:14.280> the 00:23:14.390 --> 00:23:14.400 align:start position:0% privacy of of the citizens what is the 00:23:14.400 --> 00:23:17.149 align:start position:0% privacy of of the citizens what is the balance<00:23:14.760> between<00:23:15.120> knowing<00:23:15.720> and<00:23:16.559> taxing<00:23:16.980> what 00:23:17.149 --> 00:23:17.159 align:start position:0% balance between knowing and taxing what 00:23:17.159 --> 00:23:19.789 align:start position:0% balance between knowing and taxing what they<00:23:17.400> do<00:23:17.520> and<00:23:17.880> knowing<00:23:18.360> a<00:23:19.140> lot<00:23:19.260> more<00:23:19.500> that 00:23:19.789 --> 00:23:19.799 align:start position:0% they do and knowing a lot more that 00:23:19.799 --> 00:23:22.250 align:start position:0% they do and knowing a lot more that would<00:23:19.980> you<00:23:20.220> need<00:23:20.400> to<00:23:20.520> to<00:23:20.880> know<00:23:21.299> I<00:23:21.780> think<00:23:21.960> that's 00:23:22.250 --> 00:23:22.260 align:start position:0% would you need to to know I think that's 00:23:22.260 --> 00:23:24.950 align:start position:0% would you need to to know I think that's uh<00:23:22.500> that's<00:23:22.919> a<00:23:23.100> question<00:23:23.280> for<00:23:24.120> uh<00:23:24.360> for 00:23:24.950 --> 00:23:24.960 align:start position:0% uh that's a question for uh for 00:23:24.960 --> 00:23:27.710 align:start position:0% uh that's a question for uh for Colombian<00:23:25.679> Society<00:23:26.039> to<00:23:26.400> answer<00:23:26.640> as<00:23:27.360> a<00:23:27.539> whole 00:23:27.710 --> 00:23:27.720 align:start position:0% Colombian Society to answer as a whole 00:23:27.720 --> 00:23:28.970 align:start position:0% Colombian Society to answer as a whole uh 00:23:28.970 --> 00:23:28.980 align:start position:0% uh 00:23:28.980 --> 00:23:31.669 align:start position:0% uh I'm<00:23:29.520> going<00:23:29.820> to<00:23:29.940> be<00:23:30.179> perform<00:23:30.480> honest<00:23:30.900> uh<00:23:31.440> from 00:23:31.669 --> 00:23:31.679 align:start position:0% I'm going to be perform honest uh from 00:23:31.679 --> 00:23:32.450 align:start position:0% I'm going to be perform honest uh from the<00:23:31.799> point<00:23:31.860> of<00:23:31.980> view<00:23:32.100> of<00:23:32.280> the<00:23:32.340> tax 00:23:32.450 --> 00:23:32.460 align:start position:0% the point of view of the tax 00:23:32.460 --> 00:23:35.029 align:start position:0% the point of view of the tax administration<00:23:33.059> we're<00:23:33.900> interested<00:23:34.440> in<00:23:34.799> in 00:23:35.029 --> 00:23:35.039 align:start position:0% administration we're interested in in 00:23:35.039 --> 00:23:37.190 align:start position:0% administration we're interested in in the<00:23:35.220> traceability<00:23:35.820> of<00:23:36.299> transactions 00:23:37.190 --> 00:23:37.200 align:start position:0% the traceability of transactions 00:23:37.200 --> 00:23:39.289 align:start position:0% the traceability of transactions especially<00:23:38.100> given<00:23:38.580> that<00:23:38.760> the<00:23:38.940> Colombian 00:23:39.289 --> 00:23:39.299 align:start position:0% especially given that the Colombian 00:23:39.299 --> 00:23:42.169 align:start position:0% especially given that the Colombian economy<00:23:39.780> uh<00:23:40.559> is<00:23:40.799> so<00:23:41.039> informal<00:23:41.520> and<00:23:41.820> so<00:23:42.059> many 00:23:42.169 --> 00:23:42.179 align:start position:0% economy uh is so informal and so many 00:23:42.179 --> 00:23:46.029 align:start position:0% economy uh is so informal and so many people<00:23:42.360> use<00:23:42.659> cash<00:23:43.020> I<00:23:43.860> think<00:23:43.980> for<00:23:44.400> instance<00:23:44.700> uh 00:23:46.029 --> 00:23:46.039 align:start position:0% people use cash I think for instance uh 00:23:46.039 --> 00:23:48.590 align:start position:0% people use cash I think for instance uh uh<00:23:47.039> we<00:23:47.460> you<00:23:47.640> know<00:23:47.820> if<00:23:47.880> we<00:23:48.000> could<00:23:48.120> if<00:23:48.299> we<00:23:48.480> could 00:23:48.590 --> 00:23:48.600 align:start position:0% uh we you know if we could if we could 00:23:48.600 --> 00:23:52.909 align:start position:0% uh we you know if we could if we could offer<00:23:49.020> uh<00:23:49.740> people<00:23:50.220> a<00:23:50.880> digital<00:23:51.240> currency<00:23:51.919> that 00:23:52.909 --> 00:23:52.919 align:start position:0% offer uh people a digital currency that 00:23:52.919 --> 00:23:55.310 align:start position:0% offer uh people a digital currency that is<00:23:53.159> more<00:23:53.400> convenient<00:23:53.820> than<00:23:54.179> cash<00:23:54.419> even<00:23:54.840> safer 00:23:55.310 --> 00:23:55.320 align:start position:0% is more convenient than cash even safer 00:23:55.320 --> 00:23:57.590 align:start position:0% is more convenient than cash even safer than<00:23:55.500> cash<00:23:55.740> right<00:23:56.039> like<00:23:56.340> if<00:23:56.640> you're<00:23:56.820> like<00:23:57.419> if 00:23:57.590 --> 00:23:57.600 align:start position:0% than cash right like if you're like if 00:23:57.600 --> 00:23:59.149 align:start position:0% than cash right like if you're like if someone<00:23:57.720> steals<00:23:58.200> cash<00:23:58.380> from<00:23:58.620> you<00:23:58.740> there's<00:23:58.980> no 00:23:59.149 --> 00:23:59.159 align:start position:0% someone steals cash from you there's no 00:23:59.159 --> 00:24:01.010 align:start position:0% someone steals cash from you there's no way<00:23:59.280> of<00:23:59.400> getting<00:23:59.520> it<00:23:59.760> back<00:23:59.880> if<00:24:00.299> it's<00:24:00.419> if<00:24:00.780> it's 00:24:01.010 --> 00:24:01.020 align:start position:0% way of getting it back if it's if it's 00:24:01.020 --> 00:24:04.490 align:start position:0% way of getting it back if it's if it's highly<00:24:01.320> traceable<00:24:01.860> you<00:24:02.820> you<00:24:02.880> may<00:24:03.600> be<00:24:04.200> able<00:24:04.380> to 00:24:04.490 --> 00:24:04.500 align:start position:0% highly traceable you you may be able to 00:24:04.500 --> 00:24:06.289 align:start position:0% highly traceable you you may be able to know<00:24:04.679> what<00:24:04.980> happened<00:24:05.159> to<00:24:05.400> it<00:24:05.700> afterwards 00:24:06.289 --> 00:24:06.299 align:start position:0% know what happened to it afterwards 00:24:06.299 --> 00:24:10.130 align:start position:0% know what happened to it afterwards right<00:24:06.840> uh<00:24:07.799> so<00:24:08.100> those<00:24:08.460> I<00:24:09.299> think<00:24:09.720> I<00:24:09.840> think<00:24:10.020> there 00:24:10.130 --> 00:24:10.140 align:start position:0% right uh so those I think I think there 00:24:10.140 --> 00:24:13.250 align:start position:0% right uh so those I think I think there are<00:24:10.320> trade-offs<00:24:10.740> in<00:24:10.919> life<00:24:11.100> uh<00:24:11.940> and<00:24:12.360> and<00:24:13.020> I 00:24:13.250 --> 00:24:13.260 align:start position:0% are trade-offs in life uh and and I 00:24:13.260 --> 00:24:14.570 align:start position:0% are trade-offs in life uh and and I think<00:24:13.380> it<00:24:13.620> would<00:24:13.799> be<00:24:13.980> particularly 00:24:14.570 --> 00:24:14.580 align:start position:0% think it would be particularly 00:24:14.580 --> 00:24:16.490 align:start position:0% think it would be particularly interesting<00:24:15.120> for<00:24:15.480> everyone<00:24:15.600> involved<00:24:16.200> to 00:24:16.490 --> 00:24:16.500 align:start position:0% interesting for everyone involved to 00:24:16.500 --> 00:24:17.330 align:start position:0% interesting for everyone involved to have 00:24:17.330 --> 00:24:17.340 align:start position:0% have 00:24:17.340 --> 00:24:20.830 align:start position:0% have a<00:24:17.820> digital<00:24:18.179> currency<00:24:18.539> that<00:24:19.260> is<00:24:19.620> not<00:24:20.340> 100 00:24:20.830 --> 00:24:20.840 align:start position:0% a digital currency that is not 100 00:24:20.840 --> 00:24:23.570 align:start position:0% a digital currency that is not 100 Anonymous<00:24:21.840> that<00:24:22.380> can<00:24:22.559> be<00:24:22.679> traced<00:24:23.100> but<00:24:23.340> that 00:24:23.570 --> 00:24:23.580 align:start position:0% Anonymous that can be traced but that 00:24:23.580 --> 00:24:26.690 align:start position:0% Anonymous that can be traced but that also<00:24:23.940> offers<00:24:24.360> extra<00:24:25.260> safety<00:24:25.740> beyond<00:24:26.340> the<00:24:26.520> the 00:24:26.690 --> 00:24:26.700 align:start position:0% also offers extra safety beyond the the 00:24:26.700 --> 00:24:28.909 align:start position:0% also offers extra safety beyond the the safety<00:24:27.179> that<00:24:27.419> that<00:24:27.600> cash<00:24:27.840> can<00:24:28.080> give<00:24:28.260> you 00:24:28.909 --> 00:24:28.919 align:start position:0% safety that that cash can give you 00:24:28.919 --> 00:24:32.450 align:start position:0% safety that that cash can give you yeah<00:24:29.340> I<00:24:29.760> think<00:24:30.000> my<00:24:30.120> time<00:24:30.419> is<00:24:30.600> up<00:24:30.720> and<00:24:31.080> uh<00:24:31.679> we 00:24:32.450 --> 00:24:32.460 align:start position:0% yeah I think my time is up and uh we 00:24:32.460 --> 00:24:35.270 align:start position:0% yeah I think my time is up and uh we probably<00:24:32.640> want<00:24:33.360> to<00:24:33.480> go<00:24:33.600> out<00:24:33.720> there<00:24:33.900> but<00:24:34.380> uh 00:24:35.270 --> 00:24:35.280 align:start position:0% probably want to go out there but uh 00:24:35.280 --> 00:24:37.010 align:start position:0% probably want to go out there but uh thank<00:24:35.640> you<00:24:35.760> for<00:24:35.820> your<00:24:36.000> questions 00:24:37.010 --> 00:24:37.020 align:start position:0% thank you for your questions 00:24:37.020 --> 00:24:40.549 align:start position:0% thank you for your questions um<00:24:37.140> uh<00:24:38.100> Alfredo<00:24:38.700> and<00:24:39.179> uh<00:24:39.360> Stefania<00:24:39.960> are<00:24:40.260> here 00:24:40.549 --> 00:24:40.559 align:start position:0% um uh Alfredo and uh Stefania are here 00:24:40.559 --> 00:24:43.310 align:start position:0% um uh Alfredo and uh Stefania are here to<00:24:40.919> take<00:24:41.159> to<00:24:41.520> collect<00:24:41.820> some<00:24:42.059> more<00:24:42.240> of<00:24:42.360> those<00:24:42.600> if 00:24:43.310 --> 00:24:43.320 align:start position:0% to take to collect some more of those if 00:24:43.320 --> 00:24:47.390 align:start position:0% to take to collect some more of those if you<00:24:43.679> uh<00:24:44.640> and<00:24:44.940> uh<00:24:45.360> yeah<00:24:46.200> we<00:24:46.679> will<00:24:46.860> be<00:24:47.039> collecting 00:24:47.390 --> 00:24:47.400 align:start position:0% you uh and uh yeah we will be collecting 00:24:47.400 --> 00:24:50.270 align:start position:0% you uh and uh yeah we will be collecting them<00:24:47.580> and<00:24:47.880> Publishing<00:24:48.360> an<00:24:48.780> official<00:24:49.280> document 00:24:50.270 --> 00:24:50.280 align:start position:0% them and Publishing an official document 00:24:50.280 --> 00:24:52.810 align:start position:0% them and Publishing an official document uh<00:24:51.120> answering<00:24:51.600> them<00:24:51.720> so<00:24:51.960> make<00:24:52.140> sure<00:24:52.320> to<00:24:52.440> ask 00:24:52.810 --> 00:24:52.820 align:start position:0% uh answering them so make sure to ask 00:24:52.820 --> 00:24:54.649 align:start position:0% uh answering them so make sure to ask absolutely<00:24:53.820> everything<00:24:54.059> that<00:24:54.360> you<00:24:54.480> want<00:24:54.600> to 00:24:54.649 --> 00:24:54.659 align:start position:0% absolutely everything that you want to 00:24:54.659 --> 00:24:56.390 align:start position:0% absolutely everything that you want to ask<00:24:54.780> and<00:24:55.020> this<00:24:55.140> is<00:24:55.320> not<00:24:55.440> the<00:24:55.620> only 00:24:56.390 --> 00:24:56.400 align:start position:0% ask and this is not the only 00:24:56.400 --> 00:24:57.950 align:start position:0% ask and this is not the only yeah<00:24:57.000> like 00:24:57.950 --> 00:24:57.960 align:start position:0% yeah like 00:24:57.960 --> 00:25:00.230 align:start position:0% yeah like um<00:24:58.020> they<00:24:58.919> will<00:24:59.039> be<00:24:59.159> happy<00:24:59.280> to<00:24:59.520> share<00:24:59.820> uh 00:25:00.230 --> 00:25:00.240 align:start position:0% um they will be happy to share uh 00:25:00.240 --> 00:25:03.169 align:start position:0% um they will be happy to share uh contact<00:25:00.480> information<00:25:00.840> with<00:25:01.620> you<00:25:01.740> so<00:25:02.580> that<00:25:02.820> we 00:25:03.169 --> 00:25:03.179 align:start position:0% contact information with you so that we 00:25:03.179 --> 00:25:05.990 align:start position:0% contact information with you so that we can<00:25:03.360> maybe<00:25:04.140> set<00:25:04.440> up<00:25:04.620> a<00:25:04.860> round<00:25:05.159> table<00:25:05.520> between 00:25:05.990 --> 00:25:06.000 align:start position:0% can maybe set up a round table between 00:25:06.000 --> 00:25:08.690 align:start position:0% can maybe set up a round table between Dion<00:25:06.659> and<00:25:07.020> the<00:25:07.260> industry<00:25:07.679> and<00:25:08.280> and<00:25:08.460> start 00:25:08.690 --> 00:25:08.700 align:start position:0% Dion and the industry and and start 00:25:08.700 --> 00:25:11.210 align:start position:0% Dion and the industry and and start clarifying<00:25:09.360> some<00:25:09.659> of<00:25:09.780> these<00:25:10.020> questions<00:25:10.440> thank 00:25:11.210 --> 00:25:11.220 align:start position:0% clarifying some of these questions thank 00:25:11.220 --> 00:25:11.980 align:start position:0% clarifying some of these questions thank you<00:25:11.400> very<00:25:11.760> much 00:25:11.980 --> 00:25:11.990 align:start position:0% you very much 00:25:11.990 --> 00:25:16.509 align:start position:0% you very much [Applause]