Skip to main content

Sunacrip Revokes Licenses Of Two Cryptocurrency Exchanges In Venezuela

sunacrip

Sunacrip, the Venezuelan cryptocurrency watchdog, has suspended the operating licenses of two exchanges for lack of compliance with current regulations. The announcement was made by Joselit Ramirez, superintendent of Sunacrip, who also mentioned the exchanges that are approved by the institution, leaving some big names like Binance off of the list.

Sunacrip Tightens Compliance Requirements For Exchanges In Venezuela

Sunacrip, the institution in charge of the regulation of all things crypto in Venezuela, has announced it has revoked the trading licenses of two exchange platforms on January 26. The superintendent of the organization, Joselit Ramirez, made the announcement via Twitter, stating:

WE INFORM all our users that two general operating licenses of the exchange houses Criptomundo and Cave Blockchain have been REVOKED, for not complying with the rules established by Sunacrip to operate in our country.

While Ramirez didn’t disclose the specific reasons for these licenses being revoked, he did mention all of the exchanges that were still authorized by Sunacrip to conduct exchange operations in the country. Among these are Criptoactivos Amberes Coin, Asesoría Financiera IO, Criptoex, Criptoven Trade, Digital Factoring, Venecrip, and the Patria Platform, which is operated by the government.

Other exchanges authorized by Sunacrip, but that are not operating due to technical issues are Crixto Vzla, Exchange Vzla, Canjeable Ticketven, Financieras 1444, CriptoExchange, and Criptoactivos Bancar.

International Exchanges in Gray Area

While the list offered by Ramirez was extensive, it left some names out of the equation. Exchanges like Binance, which have a significant foothold in Venezuela, were not mentioned, leaving the presence of these operations in the country in a gray area. Currently, Binance P2P, the part of the exchange that allows users to connect and trade cryptocurrencies and fiat money, has one of the biggest exchange operations in Venezuela.

Also, other international exchanges that Venezuelans can use to manage and transact cryptocurrencies are not authorized. This means that if users of these exchanges face any problems using them, there would be no guarantees regarding the activities. Lastly, Ramirez made a recommendation for users to abstain from using non-authorized services, to “guarantee the legitimacy of the operations and support for the services offered.”

Venezuela was one of the first countries in Latam to boast a comprehensive cryptocurrency regulation system, two years before El Salvador introduced its “Bitcoin Law,” making the crypto legal tender. Sunacrip also strengthened the KYC requirements for virtual asset service providers on May 3rd, last year.

What do you think about the state of some international exchanges in Venezuela according to Sunacrip? Tell us in the comments section below.



from Bitcoin News https://ift.tt/3Hej8ny
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more