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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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