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What is happening with the Cryptocurrency Exchanges in Venezuela?

Discussion in 'Exchanges' started by Grupo.certus, Aug 20, 2018.

  1. Grupo.certus

    Grupo.certus New Member

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    On April 26, within the Expo Venezuela Power 2018, the Government of Venezuela authorized and certified 16 exchange houses to operate with cryptocurrencies. This action was made as part of the opening and regulations of the Venezuelan Government towards the ecosystem, which includes the launch of its own cryptoactive, the Petro.(http://www.correodelorinoco.gob.ve/gobierno-certifica-16-casas-de-cambios-para-criptomonedas/)

    Almost four months after announcement, none of these exchange houses is active to make exchanges. Although according to President Nicolás Maduro these exchange offices could operate from April 27. Only 5 of them - Amberescoin, Menex, Criptoven Trade, Bancar - they have an active web pages and only some of them allow only the registration of users. Italcambio, the oldest exchange house of the authorized ones, keeps its foreign exchange operations without including cryptocurrencies. None of these exchanges has explicitly included Dash in its portfolio.

    The cryptocurrency exchanges that existed in advance of these new regulations have fallen into a legal vacuum because they were not authorized to continue with the commercial activity they had been doing.

    In May, the Exchange Cryxto announced its "temporary suspension of operations in Venezuela until the Superintendence of Cryptoactives of Venezuela and Related Activities does not formalize list of licenses and rules to operate."(https://www.criptotendencias.com/ac...pension-temporal-de-operaciones-en-venezuela/)

    On July 24 Colibit announced the closure of its operations after two months of blocking website by the regulator ConateLl. In the statement they say that they took steps to regularize their status without receiving a favorable response. (https://twitter.com/colibit_io/status/1021607637383827461) Colibit's situation stands out for having been financed by the treasury to include Dash (https://www.dashcentral.org/p/gc-colibit2). In the thread for information on his proposal, Rafael Useche, CEO of Colibit, reported the reasons more clearly than the official statement: Specifically, Conatel accuses them of selling Dash at a "speculative price", although Colibit does not mark the price just offer and demand of Dash. In addition, these accusations were never formally made and they did not have the right to defend themselves, so they do not have legal guarantees. (https://www.dash.org/forum/threads/...-free-market-for-dash-vef-in-venezuela.29535/).
    Criptolifex, another Exchange proposal funded by the treasury announced that it still does not have the license to operate in Venezuela (https://www.dash.org/forum/threads/cryptolifex-exchange-vef-dash-dash-vef.39975 /).
    Other Venezuelan Exchanges have not yet made similar announcements. Cryptobuyer, Cryptoway and Mango Markets apparently continue to operate normally.
     
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  2. Soft-FX

    Soft-FX New Member

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    I would recommend using well known and trusted crypto exchanges and choose a wait-and-see mode for the Venezuelan exchanges.
     
  3. Grupo.certus

    Grupo.certus New Member

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    Hello, @Soft-FX We agree to look for a safe and reliable option. In Venezuela, our currency is the Bolivar, and with respect to currency changes, the options are limited.

    One option could be to buy BTC or ETH with Bs and switch to Dash. This means more commissions. Until a couple of weeks ago it was easier, using @colibit.

    The support that can be provided in our country through Dash Venezuela is very important.
     
  4. Sarah Roberts

    Sarah Roberts New Member

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    isn't it?
     
  5. Benji77

    Benji77 Member

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    That's interesting that Latin America has such issues.
     
  6. healey

    healey New Member

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    idea: best way is on localbitcoins as of right now and convert 2 dash thru shapeshift or changelly. also cryptoway site is not working now
     
  7. Grupo.certus

    Grupo.certus New Member

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    Hi! Coincola was recently incorporated which trades with BTC, ETH, USDT, BCH, LTC and DASH locally with an escrow system
     
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