The Venezuelan cryptocurrency ecosystem remains on shaky ground four months after the intervention of national crypto watchdog Sunacrip, and the arrest of its head, Joselit Ramirez, due to alleged participation in a $20 billion corruption scandal involving the undeclared sale of crude oil for crypto. There have been no official updates from Sunacrip’s restructuring board, but Bitcoin mining activities are still halted per local sources’ reports.
Venezuelan Crypto Ecosystem Still Affected After Sunacrip Intervention
The situation of the Venezuelan cryptocurrency ecosystem and the current status of its official cryptocurrency asset, the petro, are yet uncertain after four months of the intervention of Sunacrip, the Venezuelan cryptocurrency watchdog. The restructuring board has made no official statements on the processes it is developing, and it is currently not known if the regulatory institution will even survive.
The government of Nicolas Maduro issued an executive order to inter
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