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Venezuela Restructures National Cryptocurrency Asset Regulator to Protect Citizens

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According to reports, Venezuelan President Nicola á s Maduro has announced the restructuring of the national cryptocurrency asset regulator, known as Sunacrip i

Venezuela Restructures National Cryptocurrency Asset Regulator to Protect Citizens

According to reports, Venezuelan President Nicola á s Maduro has announced the restructuring of the national cryptocurrency asset regulator, known as Sunacrip in Spanish. A new board of directors will lead the restructuring, led by Anabel Pereira Fern á ndez. Currently, no further details or specific reasons for the restructuring have been provided, but it is understood that the board of directors will set the next step plan for the cryptocurrency sector, aimed at protecting citizens of the country from the negative impact of economic sanctions, In addition, the new board structure does not include Joseit Ramirez, who has led Venezuela’s national encryption department since its establishment in 2018. （cointelgraph）

Venezuela comprehensively reforms the national encryption sector

Analysis based on this information:


The Venezuelan government has recently announced the restructuring of Sunacrip, the national cryptocurrency asset regulator in the country. The new board of directors will be led by Anabel Pereira Fernández and will oversee the next step plan for the cryptocurrency sector. This restructuring is aimed at protecting the citizens of Venezuela from the negative impacts of economic sanctions.

As one of the most oil-rich countries in the world, Venezuela has been plagued by political and economic instability for many years, which adversely affects its citizens. The government has been actively promoting the use of cryptocurrencies, especially its own digital currency, the Petro, to circumvent the impact of US-led economic sanctions. However, the adoption of cryptocurrency has been slow, with reports suggesting that only a small percentage of the population uses it to transact.

The restructuring of Sunacrip comes as a move to streamline the regulatory effort and ensure that cryptocurrency usage and trading is effectively regulated to protect Venezuelans. The new board of directors is expected to set the next step plan for the cryptocurrency industry, with clear guidelines and regulations to ensure transparency and security in crypto transactions.

This development is significant for the cryptocurrency industry in Venezuela and is expected to have a positive impact on the sector. With clear guidelines and regulations in place, crypto users and traders can operate with confidence knowing that their transactions are secure, and they are not exposed to risks associated with the unregulated industry.

It is worth noting that the restructuring of Sunacrip also saw the removal of Joseit Ramirez, who has been leading Venezuela’s national encryption department since its establishment in 2018. Although no specific reasons were given for his removal, it is clear that the government is keen on bringing fresh leadership to the regulator to reinvigorate the cryptocurrency sector.

In conclusion, the restructuring of Sunacrip is a positive development for the Venezuelan cryptocurrency sector. The new board of directors is expected to set clear guidelines and regulations to protect users and traders while promoting the use of crypto to circumvent economic sanctions. The move is also expected to encourage more widespread adoption of cryptocurrencies in the country.

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