Venezuela: the government shall adopt new regulations for Bitcoin regulation

the The government in Venezuela has enacted a new decree. This regulates, among other things, the trading of Bitcoin, but also all the related activities such as Bitcoin Mining or the operation of the corresponding Exchanges. The penalties imposed are carried out, however not in the country's own Bolivar, but in the state's own crypto-currency Petro.

By Phillip Horch
5. February 2019BTC$3.459,33 0.07% part Facebook Twitter LinkedIn xing mail

That the economic situation in South America Venezuela – to put it mildly – is not the best, should now be known. An annual inflation rate in the five-digit range are likely to promise for. Many Venezuelans turn to Bitcoin to secure their assets, and we reported on it in detail.

Venezuela is to adopt a detailed regulatory decree for Bitcoin & co.

the colorful crypto-Goings-on in Venezuela now to get a better grip (and to push by the way, the in-house Petro), adopted by the government in Venezuela, a new decree.

As the local crypto Medium crypto Noticias reported (the Homepage of the Venezuelan government is not at present), relate the new regulations to the entire crypto Space. Henceforth, any crypto-currencies related activity (Exchanges, Mining or Trading) needs the permission of the Venezuelan government.

Own Venezuelan authority Sunacrip monitored crypto-activities

to monitor all of these activities (and approve if necessary), has called on the national Assembly of the country a task force, the "Sunacrip". Their task is now to check with particular vigilance in the new Exchanges. The government also intends to carry out future studies on the effectiveness and economic feasibility of the mining. In addition, the government should decree that all the activities are around logged to crypto-currencies. In short: Everything to do with Bitcoin & co., wants to monitor the government in the future.

Read also: What the Bitcoin is worth? The situation on Wednesday

Speaking of other crypto is a violation of the currencies Who: against the regulatory measures, which threaten hefty fines – between 3,000 and 18,000 US dollars. However, these are not, for example, in Venezuelan Bolivar payable. As a means of choosing the country's own crypto-currency: the Petro-applies here.

You're a Blockchain or crypto-Investor? : The digital crypto-compass is the first market letter for digital currencies, and provides you with monthly exclusive assessments and comprehensive analysis of the current situation on the Blockchain and crypto-markets. the test for free