As a result of the restructuring that is being carried out within the Superintendency of Cryptoactives in Venezuela, in the Venezuelan crypto scenario there have been no shortage of voices that opine about the events that are taking place in that government department and how it can affect or even improve the cryptocurrency ecosystem in that country. In this context, Aaron Olmos, Venezuelan economist and CEO of Olmos Grouphas spoken with Cointelegraph in Spanish, and has shared his analysis of the situation, in which In his opinion, it leaves this regulatory entity in a position to redo things, start from scratch and improve, within the next six months, if they wanted to, some points that needed to be addressed.
“What is happening could be an opportunity to resize SUNACRIP, which over time became a highly bureaucratic entity, which went from the traditional bureaucracy of any organizational structure or public entity to excessive bureaucracy for anything from a user who wants to open a wallet, someone who wants to go to SUNACRIP to ask something or an exchange company who wants to know what the steps are to register, so many things that over time began to become a bit uphill.”Olmos said.
Likewise, he stated that These events could be the opportunity for the regulator to really connect with the Venezuelan crypto and blockchain community, receiving points of view, guidance on how the market could work better according to the vision of those who give life to the market, who are the companies and people who are developing these businesses.
“I think it would be very smart to summon the people who make a living in the field of education, trading, blockchain, exchange, and providing services, developing platforms, so that in this restructuring process SUNACRIP comes out new from everything. this, is something that is adapted and is more similar to the dynamics that the national market has with the well-known use of cryptocurrencies in Venezuela, everything that we have already experienced in some way and the important use that it has shown ”Olmos said.
“However, until now, it has been more than a week and we have not necessarily seen any type of situation that speaks to us of changes beyond what we have in the media so far”he added.
About the closure of exchanges
Regarding the alleged mandate by SUNACRIP to Venezuelan exchanges ordering them to stop their operations, Olmos pointed out that he did not know anything about it, since the only information that was handled was that which was contained in the extraordinary official gazette of March 17 with the appointment of a new superintendent of cryptocurrencies and a group of directors and alternates with the mission of restructure the entity in a period of six months, extendable for another six months.
“As of the publication of this gazette, on the 24th, exactly one week later, Cryptobuyer comes out with a publication making it public domain that they were going to temporarily cease their operations at the request of Sunacrip, but on the 25th, the day after, they clarify that it is a temporary suspension, but not that the license is suspended or revoked. Until now, SUNACRIP, not on its website, its social networks or anywhere, has placed a statement where it says that it is going to ask the exchanges or the Venezuelan mining farms to: one, suspend operations and two, turn off the farms, that hasn’t seemed like that anywhere”he pointed.
“You check the websites, social networks and pages of the main companies that are dedicated to this, at least SUNACRIP, the four exchanges are still in operation, nowhere does it tell you that there is any suspension of activities, rather some websites and social media accounts look a bit outdated or neglected, with posts from the beginning of the year, even from last year”he added.
With the case of digital miners, mining companies that do Hosting, and that have farms in Venezuela, Olmos pointed out that regarding the orders that he was given to turn off the equipment due to inquiries and investigations in SUNACRIP, what is there of this It is actually the opinion of users, customers, and some spokespersons for some companies that They do mention that they have been asked to disconnect some equipment or limit operations to validate; the logic – Olmos mentions – of when someone assumes a new position, trying to see what these operations are about and what is happening while positioning their team within the structure and soaking up all the operation of these. “It is not easy at all, because a crypto activity supervision entity requires from those who assume these positions knowledge in each of the areas and not only the knowledge that the legal framework that the entity itself has placed can provide, but also the own knowledge of technical issues of exchange, mining, cryptocurrencies, and even the Petro itself”said Olmos, also concluding that in the end there is no official voice that dictates the steps that are being taken in the intervention process of this new administration in SUNACRIP.
Having said this, it should be noted that in context, the case of Venezuela is of great value for what the adoption of cryptocurrencies in Latin America represents, since the South American country always appears among the first of the lists at the level of crypto-motivated adoption. its various economic problems that have pushed its citizens to look for other stronger and more solid money alternatives than their official currency.
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