El uso de bitcoin como garantía mobiliaria en Colombia

The use of bitcoin as collateral in Colombia is viable under Law 1676 of 2013 (LGM), given its recognition as an intangible asset and movable patrimonial good. However, its digital nature presents regulatory, operational, and contractual challenges. This study examines its application in centralized schemes, where execution is immediate, and decentralized (DeFi) platforms, where guarantees are managed through smart contracts. It addresses risks such as volatility, custody security, and loan-to-value (LTV) thresholds, as well as mitigation strategies using innovative mechanisms inherent to the blockchain ecosystem. Although supervised financial institutions cannot operate with Bitcoin as collateral, its use among private parties is feasible. The effective implementation of these guarantees requires a solid contractual structure that ensures flexibility, legal security, and efficient risk management, aligning practice with the existing regulatory framework.