Venezuela Regulator Shuts Down Some Cryptocurrency Exchanges and Mining Farms
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- 31 Mar 2023
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The moves come amidst an anti-corruption investigation that has brought an arrest, resignation, and a national scandal.
From crypto paradise to crypto chaos—the situation for cryptocurrency enthusiasts in Venezuela has been anything but good in recent days.
Following the arrest of Joselit Ramirez—Venezuela’s Superintendent of Cryptoassets—and President Nicolas Maduro's order to restructure the country’s crypto regulatory agency, every day has brought bad news for the national crypto ecosystem.
Most recently, the new Superintendent of Cryptoassets is apparently unhappy with the way the industry has developed and ordered the closure of all cryptocurrency exchanges registered in Venezuela with Venezuela’s National Superintendency of Cryptoassets “Sunacrip”—the country’s crypto regulator.
Although the drastic move has not been officially confirmed, Venezuela’s National Association of Cryptocurrencies told to Decrypt that such actions are taking place, as the country advances an anti-corruption investigation that has so far cut off the proverbial heads of Joselit Ramirez and his political protector Tareck el Aissami, the Minister of Energy and Petroleum.
"We believe that private companies should not be blamed for what is happening inside the regulatory body and that we should promote the full activation of all cryptocurrency operations (in the country)," Jose Angel Alvarez, Asonacrip president, told Decrypt.
Alvarez added that "we are preparing a list of propositions to be delivered soon to Sunacrip and Dr. Anabel Pereira." Anabel Pereira is the new head of Sunacrip.
Asonacrip opened a public survey so that cryptocurrency enthusiasts in Venezuela can provide input on the recommendations that will be delivered to the Sunacrip intervention board. Read More…
