Sunacrip Revokes Licenses Of Two Cryptocurrency Exchanges In Venezuela

Sunacrip, the Venezuelan cryptocurrency watchdog, has suspended the working licenses of two exchanges for lack of compliance with present rules. The announcement was made by Joselit Ramirez, superintendent of Sunacrip, who additionally talked about the exchanges which might be accepted by the establishment, leaving some huge names like Binance off of the record.

Sunacrip Tightens Compliance Requirements For Exchanges In Venezuela

Sunacrip, the establishment in control of the regulation of all issues crypto in Venezuela, has introduced it has revoked the buying and selling licenses of two trade platforms on January 26. The superintendent of the group, Joselit Ramirez, made the announcement by way of Twitter, stating:

WE INFORM all our customers that two common working licenses of the trade homes Criptomundo and Cave Blockchain have been REVOKED, for not complying with the principles established by Sunacrip to function in our nation.

While Ramirez didn’t disclose the precise causes for these licenses being revoked, he did mention all the exchanges that had been nonetheless approved by Sunacrip to conduct trade operations within the nation. Among these are Criptoactivos Amberes Coin, Asesoría Financiera IO, Criptoex, Criptoven Trade, Digital Factoring, Venecrip, and the Patria Platform, which is operated by the federal government.

Other exchanges authorized by Sunacrip, however that aren’t working as a result of technical points are Crixto Vzla, Exchange Vzla, Canjeable Ticketven, Financieras 1444, CriptoExchange, and Criptoactivos Bancar.

International Exchanges in Gray Area

While the record provided by Ramirez was intensive, it left some names out of the equation. Exchanges like Binance, which have a big foothold in Venezuela, weren’t talked about, leaving the presence of those operations within the nation in a grey space. Currently, Binance P2P, the a part of the trade that permits customers to attach and commerce cryptocurrencies and fiat cash, has one of many largest trade operations in Venezuela.

Also, different worldwide exchanges that Venezuelans can use to handle and transact cryptocurrencies will not be approved. This implies that if customers of those exchanges face any issues utilizing them, there can be no ensures concerning the actions. Lastly, Ramirez made a recommendation for customers to abstain from utilizing non-authorized providers, to “assure the legitimacy of the operations and assist for the providers provided.”

Venezuela was one of many first international locations in Latam to boast a complete cryptocurrency regulation system, two years earlier than El Salvador launched its “Bitcoin Law,” making the crypto authorized tender. Sunacrip additionally strengthened the KYC necessities for digital asset service suppliers on May third, final yr.

What do you consider the state of some worldwide exchanges in Venezuela in accordance with Sunacrip? Tell us within the feedback part under.