Cryptocurrency

11/02/19 05:15 UTC-4

Venezuela: regulation and cryptocurrency taxes

The Venezuelan government has begun to regulate cryptocurrency money transfers. The regulator has set a single limit and will charge a commission of up to 15 percent of the amount of the transactionTransaction
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. In addition, new details were announced about its comprehensive registry of encryption service providers.

The national authority for the supervision of crypto-assets and related activities (Sunacrip), which regulates all crypto-operations in Venezuela, announced on Friday that a new regulation on cryptocurrency remittances has come into force, – The decree on this resolution was published in the official newspaper of the country No. 41.581.

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Regulation cryptocurrency money transfers

Venezuela begins to regulate cryptocurrency money transfers. The decree sets "requirements and procedures for sending and receiving money transfers in crypto-assets to individuals in the Bolivarian Republic of Venezuela," Sunacrip explained.

According to the decree, the sender of the remittances mentioned in this decision is obliged to pay a financial commission in favor of Sunacrip in the amount of not more than 15% of the total amount of the remittance.

The minimum commission charged by Sunacrip is "equivalent to 0.25 euros [~ $ 0.28] per transaction," the newspaper said.

According to the regulation, Sunacrip now has the authority to set remittance limits, set cryptocurrency values ​​in sovereign bolivars, specify tariffs and request data from issuers and recipients involved in transactions, – reports Criptonoticias, a local news publication.

The monthly limit on sending remittances is equivalent to 10 Petro (PTR), the national currency of Venezuela, which the government claims to be a cryptocurrency provided by oil, gold, diamonds and other natural resources.

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"This limit is $ 600 per month, according to the quote set for the PTR. Any amount in excess of this limit will require Sunacrip approval, which will allow a maximum of 50 PTR (US $ 3,000)," the publication specifies.

Editor: Alyona Nabok

See also: "The Central Bank of South Korea has issued a digital currency alert"

#Venezuela #taxes #cryptoregulation #cryptocurrency

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