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Regulation of the Cryptocurrency Ecosystem in Venezuela (Sunacrip).

Regulation of the Cryptocurrency Ecosystem in Venezuela

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https://www.sunacrip.gob.ve/files/go-41.575.pdf

SUNACRIP: National Superintendent of Cryptoactives

SUNACRIP

National Superintendence of Cryptoactives and Related Activities (Sunacrip). It was created on April 9, 2018, according to the Official Gazette No. 6.371, with the name of the Cryptoactive Superintendence of Venezuela and Related Venezuelan Activities (Supcacven) and attached to the Vice Presidency of the Republic, a position held by Tareck El Aissami.

On October 1, 2018, it was inaugurated as Sunacrip -described to the Ministry of Popular Power of Industries and National Production, directed by El Aissami-. This regulatory body will be in charge of supporting the development of "the Petro" as a digital currency:

"It is the epicenter of the development of a new history of Venezuela's monetary economy," said the president, Nicolás Maduro, in a broadcast of the Venezuelan State channel. Television (VTV).

According to its official website:

the Sunacrip is "an autonomous, regulatory and supervising entity of all activities inherent to and derived from the development of the Integral System of Cryptoactives in accordance with the plan of the country with a revolutionary digital government based on blockchain". For his part, Maduro explained that Venezuela's comprehensive national cryptoactive plan has a 10-year horizon in its development and will allow Petro to position itself in the field of the country's economic process. Likewise, he informed that as of November 5, 2018 Venezuelans will be able to acquire the cryptocurrency.

STRUCTURE:

The superintendency is chaired by Joselit Ramírez. Sunacrip is composed of four intendances:

Intendance of Crypto Finances Services
Intendance of Cryptoassets Promotion and Development
Intendance of Crypto Mining
Intendance of Inspection

Sunacrip will work based on the principles of inclusion, financial innovation and promotion, universal access, security for users, common benefits, financial stability, technological security and simplification of procedures.

LOCATION:

Avenida Urdaneta, Esquina de Veroes, Edificio Sede, Caracas, Venezuela.

DIGITAL MINING IN VENEZUELA

In Venezuela, digital mining is regulated by the Intendence of Digital Mining, which is part of the Sunacrip.

The Intendence of Digital Mining is in charge of planning, coordinating, promoting and executing all the digital mining and related activities in Venezuela. This includes issuing licences and certifications for all the mining activities.

ASSET REGISTRATION TECHNOLOGIES:

The IIntendence of Cryptoassets Promotion and Development is the one in charge of promoting the use, training and researching everything regarding asset registration and related activities. It is also the responsible for the development and regulation of cryptoassets.

The use of cryptoassets in Venezuela opens a door to multiple opportunities to overcome our economic difficulties. This can be achieved by having all the information of the installed and latent computing infraestructure capacities, then developing them to their best.

EXCHANGES

CRYPTO EXCHANGES

Crypto exchanges are part of the whole cryptoasset system. The exchanges are intermediation platforms that people can use to carry out three basic operations: exchanges between fiduciary and cryptocurrencies, exchanges between cryptocurrency and fiduciary currency.

The platform provided by the exchanges involves everything related to the virtual wallets, the publication boards and validation of the identity of the users, so that in this way they comply with the protocols in the fight against legitimization of capital and financing terrorism.

EXCHANGES IN VENEZUELA

Enchanges need licences issued by the Venezuelan State in order to operate in Venezuela. Its reason lies in the protection of users of exchanges with a regulatory and administrative infraestructure.

MARKET YOUR PETROS IN THE FOLLOWING EXCHANGES
AUTHORIZED BY THE SUNACRIPP

cryptoexca.io: https://www.cryptoexca.io/cryptoex/
www.cryptiaexchange.com: https://www.cryptiaexchange.com/
www.bancarexchange.io: http://www.bancarexchange.io/
amberescoin.com: https://amberescoin.com/
afx.trade: https://afx.trade/
criptolago.com.ve: https://criptolago.com.ve/

So far none of these platforms are commercializing the Petro

Exchanges used by Venezuelans

Localbitcoin: https://localbitcoins.com/es/
Cryptobuyer: https://cryptobuyer.io/es/
Cryptoway: https://cryptoway.io/#/
AIRTM: https://www.airtm.com/
Uphold: https://uphold.com/es/

News Sunacrip

https://remesas.patria.org.ve/es/login

This Tuesday (02/26/19), the "Patria Remesas" platform came into operation, which allows sending remittances to Venezuela in cryptocurrencies, reported the Superintendent of Cryptoactives and Related Activities (Sunacrip), Joselit Ramírez.

"In a joint effort between Sunacrip and Patria_ve, the platform #PatriaRemesas building the new economy is formally available to the country," said Ramírez on Twitter.

"Patria Remesas" is a service of the "Patria Platform" that allows sending remittances to Venezuela in Cryptocurrencies (Bitcoin ans Litecoin). The resources sent will be available in Bolivars in "the Monedero Patria" as soon as the transfer is confirmed.

Patria Remesa, is a platform created and managed by SUNACRIP (Government of Venezuela), its job is to capture cryptocurrencies (Bitcoin and Litecoin) sent from other countries to Venezuelans, it will compete with the most popular platforms and used as localbitcoin (the exchange volume was 1,960 BTC last week (02/17/19 to 2/23/19), the localbitcoin rate is cheaper, the "Patria Remesas" rate is 11.8% and the user must have an ID provided by the government (Carnet de la Patria)

Patria Remesa

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Monedero Patria

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In a next article I will explain how the platform "Patria Remesas" works