Venezuela passes the crypto bill by which Cryptocurrency become fully legal in the country.
Venezuela’s Superintendency of Crypto Assets Ramirez Joselit confirmed it by tweeting about it on Jan. 31.
He states :
Today the constituent decree that will govern the operation of the Integral System of Crypto Assets of Venezuela was published in Official Gazette Number 41.575.
The full document is published in the Gazette having a title “Constituent Decree on the Integral System of Crypto Assets” contains 63 articles about Cryptocurrencies and related activities.
The Decree also defines the licences for mining operations and Crypto exchanges and other crypto related businesses and also defines the fines on unlicensed entities.
All the rules about crypto assets trading, crypto startups, exchanges, mining, crypto wallets licensing are described in the Decree.
Crypto Assets now fully regulated in Venezuela, this is really a big step of the country which may change the future of Venezuela.
Now Venezuela provides a great opportunity to crypto startups by making Crypto legal in the country.