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Close Follow-Up to Crypto from Venezuela

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Close Follow-Up to Crypto from Venezuela. Sudeban said he is developing a system to monitor financial transactions in real time. The government is looking at how much money is changing hands in the crypto market. To avoid devaluation of the bolivar, the Venezuelan government plans to monitor P2P cryptocurrency transactions.

On December 20, the Venezuelan bank watchdog Sudeban said that with the support of Sunacrip, the national cryptocurrency regulator, it is developing a system to verify financial transactions in real time. When details are missing.

The organization said it wanted to “combat negative practices that attack our currency and the stability of the foreign exchange market”. Let the government monitor how much money is changing hands in the cryptocurrency market. How this affects the value of the US dollar against the Venezuelan Bolivar is a clear signal.

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Timely Cash Flow – Venezuela

Experts have linked the current scarcity of cryptocurrency to peer-to-peer markets. Due to the failure of FTX in the aforementioned rate of change. Although the government did not say so, there is a direct connection between these two things.

Other factors are said to make this worse. As a modern investment in the economy through freebies. According to Legalrocks, the crypto legal system in all countries, more than 75 bank accounts have been banned since the end of 2021 due to suspicious activities related to cryptocurrency transactions.

To stop the decline of the bolivar, which fell from 12.66 bolivars to the dollar on November 28 to around 20 bolivars to the dollar on December 28, this will be one of the “difficult” measures announced by President Nicolas Maduro on December 11. The last reduction of the bolivar happened in November when its value fell by 40%.

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