Venezuela to Start Crypto Remittances Regulation

As reported, watchdog has set a monthly limit and will be collecting commissions of up to 15%
11 February 2019   878

The national regulator of cryptocurrency and related activities (Sunacrip) of Venezuela announced new requirements for cryptocurrency transfers. This is reported by Bitcoin.com.

The requirements and procedures for the sending and receiving of remittances in crypto assets to natural persons in the territory of the Bolivarian Republic of Venezuela. The sender of the remittances referred to in this ruling is obliged to pay a financial commission in favor of Sunacrip up to a maximum amount of 15% calculated on the total of the remittance.
 

New Decree

According to the resolution, Sunacrip can now set limits on the size of cryptocurrency transfers, set cryptocurrency prices in a sovereign bolivar, determine tariffs and request data from senders and recipients involved in transactions.

The monthly restriction on sending cryptocurrency payments is set in the government cryptocurrency of Venezuela and is 10 Petro (PTR), which is "equivalent to $ 600 per month in accordance with PTR quotes". Any excess of this amount will require regulatory approval, which can raise the bar to 50 PTR ($ 3,000).

Representatives of the local cryptocurrency community called the new requirements absurd, while noting that the authorities are trying to centralize technology created with completely different prerequisites.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   954

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.