Sunacrip, the Venezuelan cryptocurrency watchdog, is seeking to have better control of the movements that Venezuelans make using cryptocurrencies and other assets on fintech platforms.
Venezuelan Sunacrip Tightens Control on Transactions Made Using Unauthorized Exchanges
Sunacrip, the Venezuelan cryptocurrency watchdog, has issued a new internal providence that defines the guidelines it will follow in dealing with reports of suspicious activity related to fintech platforms. The document describes that the use of unauthorized platforms might constitute a suspicious activity, which could ostensibly lead to penalties of $15,000 for its customers.
The providence, which is an internal document signed by Joselit Ramirez, head of the organization, seeks to include different Financial Action Task Force directives in its working processes to detect money laundering and terrorism financing schemes. Venezuela is not part of the FATF currently due to the sanctions the country faces internationally.
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