Venezuela – Page 7

Venezuela’s Anti-Corruption Investigation Rocks Cryptocurrency Industry: Exchanges and Mining Farms Shut Down

March 27, 2023

Venezuelan crypto companies have reportedly been ordered to shut down over the past few days, following the President’s order to restructure the country’s crypto regulatory agency. Exchanges and mining companies seem to have been a casualty of an investigation that resulted in the arrest of 21 individuals…. Read More: Venezuela’s Anti-Corruption Investigation Rocks Cryptocurrency Industry:…
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Venezuela shuts down crypto mining facilities, exchanges amid corruption probe

March 25, 2023

According to Venezuela’s attorney general office, government officials were running parallel oil operations with the assistance of the national crypto department. Venezuela’s energy supplier has shut down crypto mining facilities throughout the country as part of a reorganization of the national crypto department and ongoing corruption investigations involving the country’s oil company. According to local…
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Venezuela’s Maduro Purges Crypto Offices of ‘Mafia’ Influences – ‘Hundreds’ Arrested

March 23, 2023

Venezuela’s President Nicolás Maduro says he has “purged mafia influences” from his government’s crypto regulators after overseeing the arrest of one of his former right-hand men. Earlier this week, Maduro green-lighted the arrest of Joselit Ramírez, the head of the Superintendencia Nacional de Criptomonedas (Sunacrip). Sunacrip is the government body that supervises crypto-related policy…. Read…
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Head of Venezuelan Crypto Watchdog Sunacrip Arrested on Alleged Corruption Charges; Institution to Face Restructuring

March 21, 2023

Joselit Ramirez, head of the Venezuelan cryptocurrency authority Sunacrip, was arrested on March 18, according to reports from local media. Ramirez, who led the institution from its creation in 2018, was arrested for being allegedly involved in corruption schemes, including the embezzlement of $3 billion related to unregistered oil sales. Sunacrip Boss Joselit Ramirez Arrested…
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Venezuela overhauls national crypto department

March 20, 2023

A new board will lead the reorganization, headed by Anabel Pereira Fernández. The new team excludes Joselit Ramirez, who led the department since its inception in 2018. Venezuela’s president Nicolás Maduro has announced the reorganization of the National Superintendency of Crypto Assets, known as Sunacrip in Spanish, according to a decree issued on March 17.…
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Argentina Registers 6.6% CPI in February; Inflation Numbers Blast Past 100% YoY for First Time Since the 90s

March 17, 2023

The National Institute of Statistics and Census of Argentina released February’s numbers for the consumer price index (CPI), registering an increase of 6.6%, a consequence of the rises in prices of food and beverages principally. The number is among the highest in the history of Argentina, reaching more than 100% growth year-on-year (YoY), something that…
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Like Venezuela, Some Retailers in Argentina Are Now Pricing Items in Dollars

March 8, 2023

Some retailers in Argentina are already pricing imported items in U.S. dollars, according to reports from local news outlets. The idea behind this would be to keep prices stable and avoid repricing articles each day, a practice that has already been adopted in other Latam countries like Venezuela, which present high levels of inflation. U.S…
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Brazilian Tax Authority Numbers Reveal Cryptocurrency Market Recovery in January

March 6, 2023

Numbers from the Brazilian tax authority indicate that the cryptocurrency market experienced a resurgence in January, with trading increasing more than 10% compared to December. Tether’s usdt is still the currency that moves the most volume, a reality related to OTC (over-the-counter) trades, according to market analysts. Crypto Market Moves Again in January, According to…
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Crypto Neobank Wallbit Leaves Venezuela Due to Sanctions

February 28, 2023

Wallbit, a crypto-enabled neobank, announced it would stop serving users in Venezuela after its banking partner in the U.S. called on it to do so. The platform announced this move was the direct result of the economic sanctions that the country is currently facing, and that Venezuelans outside the country would continue to be served.…
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Reports Indicate USDT Is Being Used in Venezuela to Facilitate Settlements and to Avoid Sanctions

February 27, 2023

Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its purchase for devaluation shielding purposes, a handful of companies are also harnessing it in this way. Companies…
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Category: Venezuela