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Sunacrip Revokes Licenses Of Two Cryptocurrency Exchanges In Venezuela – Regulation Bitcoin News

Sunacrip, the Venezuelan cryptocurrency watchdog, has suspended the operating licenses of two exchanges for lack of compliance with current regulations. The announcement was me 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 tring licenses of two exchange platforms on January 26. The superintendent of the organization, Joselit Ramirez, me 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WE INFORM all our users that two general operating licenses of the exchange houses Criptomundo and Cave Blockchain have been REVOKED, for not complying with the rules established by Sunacrip to operate in our country.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 Tre, 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 tre 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 me 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 Salvor 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.'

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting vice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

ARTICLE: Sunacrip Revokes Licenses Of Two Cryptocurrency Exchanges In Venezuela – Regulation Bitcoin News
PUBLISHED: 2022-01-27 13:00:00 
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