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P2P Arbitrage in Colombia: Nequi, Bre-B, DIAN Taxes and Risks

Everything specific to P2P arbitrage with the Colombian peso: which exchanges and payment methods work right now, how much you can move through Nequi and Bre-B keys, how crypto is declared to the DIAN (Colombia’s tax authority), what changes with provider reporting from 2026 and why banks block accounts.

AuthorAntonio MerklePublishedOctober 30, 202613 min read

Exchanges with COP and the current spread

The Colombian peso trades on all nine P2P exchanges P2P.Army tracks, and Binance holds about 56% of the ads. Binance accepts deposits via Bre-B (instant) and PSE (online bank payments); the local platforms Bitso, Buda and Wenia (Bancolombia’s platform) accept Nequi, Bancolombia or Bre-B. According to Chainalysis, Colombia moved $29.1 billion in crypto between July 2025 and June 2026, and stablecoins make up about 48% of purchases on local exchanges. The table is live.

Live dataCOP on P2P exchanges right now

Exchange	Buy USDT	Sell USDT	Spread	Ads	Activity 24H
Binance	3,303	3,274	+0.87%	546	127,600
Okx	3,318	3,265	+1.61%	177	6,009
Bybit	3,312	3,262	+1.52%	147	7,020
Bitget	3,355	3,261	+2.88%	65	1,979
BingX	3,383	3,147	+7.50%	47	1,575
Kucoin	3,372	3,214	+4.93%	47	684
Mexc	3,392	3,387	+0.14%	22	1,180
HTX	—	3,072	—	19	0
Gate	3,340	3,204	+4.23%	19	35

Averages mix payment methods and ads from new accounts: a large or negative spread is a reason to check, not a trade. Filter counterparties by history in the order book builder.

Payment methods

Bre-B keys

Bre-B is the instant payment system of the Banco de la República, Colombia’s central bank. It has been in full-scale operation since October 6, 2025, with keys (llaves) that can be a mobile number, national ID number (cédula), email or an alphanumeric code. The limit is 1,000 UVB (basic value units) per transaction — 12,110,000 pesos in 2026 — and each institution can set a lower one. On its first anniversary it had 110 million keys and 36 million users; the Bank proposes raising the limit, with no figure yet, and the formal dispute protocol is still pending.

Nequi

Nequi low-balance accounts (cuentas de bajo monto) have a limit of 210.5 UVT (tax value units) per month — 11,024,727 pesos in 2026; once it is reached, the account is blocked for that cycle unless the user converts it into a savings account. The exemption from the 4x1000 (the 0.4% tax on financial transactions) covers 65 UVT (3,404,310 pesos) per month, and only one exempt account is allowed per person.

Banks can close exchanges’ accounts with no public registry or supervisor involved, and can block accounts with unusual P2P activity. Crypto companies still struggle to access banking, even though Bancolombia runs its own crypto platform, Wenia.

Taxes and regulation

If you trade frequently, your sales usually fall under ordinary income, not occasional gains. Penalties are high: up to 100% for an inaccurate return and up to 200% for omitted assets. It is unclear whether the new reporting covers P2P platforms; keep your trade history and consult an accountant.

1. Oct 2022

   DIAN doctrinal compilation on crypto assets

   Intangible assets; sales exempt from VAT.
2. Feb 25, 2025

   VASP bill PL 510/2025 is filed

   Shelved in 2026, the third failed attempt.
3. Oct 6, 2025

   Bre-B goes into full-scale operation

   Instant payments with keys.
4. Dec 24, 2025

   Resolution 000240 (CARF)

   Crypto provider reporting from 2026.
5. Sep 12, 2026

   DIAN announces a program against undeclared crypto abroad

   Cross-checking information with other countries.
6. Oct 2026

   Circle and ACI test USDC settlement over Bre-B

   A stablecoin settlement pilot.
7. May 2027

   Providers’ first report to the DIAN

   For tax year 2026.

Local risks

The risks most often cited for P2P sellers in Colombia are fake payment proofs — edited receipts and screenshots — and third-party payments followed by chargebacks, known locally as triangulation (triangulación). Account takeovers through phishing and AI voice cloning are also reported. In October 2026 the Attorney General’s Office (Fiscalía) arrested eight people for extradition to the US; one of them was linked to about $42 million in crypto moved through third-party transfers and split deposits. In September 2026 the Fiscalía and the DEA presented a money-laundering case involving crypto assets worth 2.3 trillion pesos.

• Trade with counterparties who have more than 100 orders and a 95%+ completion rate; for large amounts, verified merchants only.
• Accept money only from the holder of the verified (KYC) account — never from third parties, relatives or “company accounts”.
• Confirm the credit in your own banking app, not from a screenshot or an SMS.
• Use a separate account for P2P and withdraw profit regularly.
• For every trade, save the order number, chat, bank statement, transfer reference and the counterparty’s KYC name.
• Be wary of a counterparty who asks you to pay into a different account or with a hidden payment description.
• Do not hand your Nequi or bank account over to anyone else: blocks for unusual activity fall on the account holder.

P2P.Army tools for COP

• COP statistics — exchanges, average prices, activity and top payment methods (free).
• USDT/COP prices on Binance P2P — the best price for each payment method (free).
• USDT/COP spreads — the maker spread by method; TOP-3/5/10 on the P2P plan.
• Order book builder — two exchanges side by side with counterparty filters (P2P plan).
• Taker signals — COP setups above your threshold in Telegram (P2P plan).
• USD/COP converter — compare bank rates with P2P prices (free).

To learn the method itself — where the spread comes from, how to assess payment methods, calculate profit and work as a maker in any country — take the free course “P2P Arbitrage from Scratch”.

About the author

Antonio Merkle

Crypto expert, arbitrage trader and investor

Crypto expert and hands-on crypto arbitrage trader, investor and software developer with over 20 years of experience. On the P2P.Army blog he covers exchange news, P2P and cross-exchange arbitrage.

• Crypto arbitrage
• P2P arbitrage
• Cross-exchange arbitrage
• Crypto exchanges
• Investing
• Software development

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