As the number of bitcoin users continue to rise, more and more countries have started looking at regulating digital currency. Yet, despite the breakthroughs in some parts of the world, the situation remains complicated in a lot of regions.

Case in point is Colombia, whose government recently clarified its stance on the digital currency. The good news is that Colombia has no plans to make bitcoin illegal anytime soon. The bad news? The Financial Superintendency of Colombia doesn’t recognize bitcoins as a currency.

Jorge Castano Gutierrez, head of the Financial Superintendency of Colombia, said that under Article 6 of Law 31 of 1992, Colombia’s only monetary unit and unit of account is the peso issued by Banco de la Republica.

“Bitcoin is not a currency of Colombia and, therefore, does not constitute a means of payment or legal tender,” Gutierrez said in a circular published last week.