Sunacrip Revokes Licenses of Two Cryptocurrency Exchanges in Venezuela

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Key Takeaways:

  • Venezuelan cryptocurrency watchdog Sunacrip has suspended the operating licenses of two exchanges.
  • On January 26, the institution announced that it had revoked the trading licences of two exchange platforms.
  • The operating licenses were suspended for lack of adherence to current regulations.
  • The announcement for suspending the operating license was made by Joselit Ramirez.

Venezuelan cryptocurrency watchdog Sunacrip has suspended the operating licenses of two exchanges. The operating licenses were suspended for lack of adherence to current regulations. Joselit Ramirez announced suspending the operating license. He is the superintendent of Sunacrip. He also mentioned a list of the exchanges that have been approved by the institution, which excludes some well-known names like Binance.

Sunacrip is the institution in charge of regulating all things crypto in Venezuela. On January 26, the institution announced that it had revoked the trading licences of two exchange platforms. The announcement was made via Twitter which stated that “WE INFORM all our users that two general operating licenses of the exchange houses Criptomundo and Cave Blockchain have been REVOKED, for not complying with the rules established by Sunacrip to operate in our country.”

Joselit Ramirez didn’t disclose the specific reasons for these licenses being revoked. He just mentioned all the exchanges that were still authorized by Sunacrip. The mentioned exchange authorized by Sunacrip to conduct exchange operations in the country were Criptoactivos Amberes Coin, Asesoría Financiera IO, Criptoex, Criptoven Trade, Digital Factoring, Venecrip, and the Patria Platform.

Some other exchanges which are authorized by Sunacrip, but that are not operating due to technical issues are Crixto Vzla, Exchange Vzla, Canjeable Ticketven, Financieras 1444, CriptoExchange, and Criptoactivos Bancar. Joselit Ramirez even recommends users refrain from using platforms NOT authorized by Sunacrip in order to guarantee the legitimacy of the operations and support for the services offered.

The list offered by Joselit Ramirez was extensive but it left some names out of the equation. Binance which has a significant presence in Venezuela was not mentioned, leaving the presence of these operations in the country in the dark. Not only Binance but many other international exchanges that Venezuelans can use to manage and transact cryptocurrencies are not authorized by Sunacrip. This clearly means if any of the users using an unauthorized exchange face any problems using them, there would be no guarantees regarding the activities.

Chaahat Girdhar
Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.

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