GOVERNMENT OF VENEZUELA WILL PUNISH THOSE WHO DISTORT THE VENEZUELAN MARKET OF CRIPTOMONEDAS
The Minister of Popular Power for Industries and National Production of Venezuela, Tareck El Aissami, recently made several statements on national television announcing new follow-up measures to national bank accounts that trade with cryptocurrencies, an action that seeks to reduce speculation in that market.
El Aissami reported that a group of mafias had "intentionally distorted the market for cryptocurrencies" in the Latin American country. In this regard, the state authority stated that the speculators had migrated from the web pages that calculated the parallel dollar rates in Venezuela, to the use of cryptocurrencies as a method or unit of calculation for dollar sales rates parallel to the national level. , a phenomenon that has been reported.
"Some pages intend to impose speculative prices on cryptocurrencies that have legal tender in Venezuela," the minister said. Due to this, the Venezuelan government's regulatory authorities have decided to implement a group of legal actions to identify national bank accounts linked to operations of distortion of the market of the cryptocurrencies and their owners "will be severely punished and placed under the order of national justice" .
Although no details were given on the retaliation that these new measures could generate in the legal sector, Tareck El Aissami confirmed that speculative practices in the digital asset market will have legal consequences, which could include jail for offenders.
3,388 million dollars. In addition, this State adoption was accompanied by the creation of the Superintendence of Cryptoactives, the authority in charge of regulating cryptocurrencies in the country.
In pursuit of these actions, the State also created a Cryptoactive Treasury and decided to distribute digital certificates that allow mining throughout its territory, measures that legalize the cryptocurrency ecosystem in the nation.
However, Customs State measures also prevented the importation of ASIC miners to the country that did not have the proper authorization of the regulatory authorities, who have granted authorization to only two national companies and denied two other import firms.
Similarly, the country also presented a high rate of cryptocurrency miners arrested due to the theft of electricity and illegal mining operations in the territory, antecedents that have shaken the crypto-friendly image of the Venezuelan State more than once.