Venezuelan Government Signs Agreement to Establish Guidelines for Granting Li...
The National Superintendency of Crypto Assets (Sunacrip) and the National Electricity Corporation of Venezuela (Corpoelec) signed an agreement to establish guidelines to “improve the development” of bitcoin and other crypto mining activities across the country. Venezuelan Government Bodies Are Expected to Set Guidelines for Granting Crypto Mining Licenses According to the government’s announcement on Dec. 9, the Framework Agreement for Inter-institutional Cooperation will define which electric fees will be required for crypto miners to pay to pursue their activities. But....
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Sunacrip, the Venezuelan cryptocurrency watchdog, has recently published a new set of AML/KYC requirements for VASPs (Virtual Asset Service Providers) that establishes new and updated rules about the kind of information these providers must require and share with the Venezuelan government, raising alarms in the cryptocurrency community about what the government could do with this data. Venezuelan Crypto Watchdog Sunacrip Strengthens KYC/AML Requirements for VASPs Last week, the Superintendence of Crypto Assets and Linked Activities of Venezuela (Sunacrip), quietly published a new set of....
Things are not looking good in Venezuela. Food is reportedly tough to procure or inflated, and the country's minimum wage puts people beyond poverty. Recently, individuals have reported the Venezuelan government has taken a strict stance on foreign currencies, including Bitcoin. The Venezuelan government has not released official figures regarding the lack of availability of basic products in the country. A leaked government study, however, has shone light on the question. Alongside scarcity, Venezuelans are enduring the rising cost of food, with the monthly cost of an average Venezuelan....
The U.S. Federal Reserve Board has finalized tiered guidelines for granting Federal Reserve accounts, with Wyoming’s crypto banks likely to fall under the most scrutiny. The United States Federal Reserve Board announced Monday that it had finalized its guidelines for the factors reserve banks are to consider when reviewing requests for Federal Reserve accounts and payment services. The guidelines create a three-tiered review framework with the level of due diligence to be provided, depending on the applicant’s risk level. Guidelines were first proposed in May 2021, with a supplemental....
The Government of Zimbabwe has confirmed signing an agreement with Daedalus World Limited which enables the latter to collect taxes from crypto and other content providers.
Zimbabwe’s Stance on Crypto
The Zimbabwean government recently said it had entered into an agreement with the British Virgin Islands-based Daedalus World Limited wherein the latter is expected to collect taxes from companies that offer “betting, gaming and cryptocurrency services to persons and organisations within the territory of the Republic of Zimbabwe.”
According to a....
The Venezuelan Government has approved a new tax that would affect transactions made in foreign currency and cryptocurrency transactions. Approved by the National Assembly of the country, the tax, called the “large financial transactions” tax would collect up to 20% over transactions made in currencies different from the national fiat currency or the Petro.
Venezuelan Government To Tax Crypto Transactions
The Venezuelan government has approved a new tax that will affect transactions and payments made with cryptocurrencies and foreign currency. The tax, which is....