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   408

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

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.

ErisX May Start Spot Crypto Platform Test

American broker TD Ameritrade is among big players interested in new opportunities, but both companies continues to be silent
25 April 2019   82

ErisX Derivatives Exchange is may be testing a platform for spot trading in cryptocurrencies, and some major players have already become interested in new opportunities. American broker TD Ameritrade is among them, reports The Block.

While representatives of both companies refuse to comment on the situation, however, if the partnership information is confirmed, 11 million TD Ameritrade customers will receive access to spot cryptocurrency trading.

Thus, the company will become one of the first large brokers to provide retail traders with access to digital currencies as an independent asset, and will be able to compete with the Robinhood.

Last October, ErisX attracted investments from TD Ameritrade to launch a regulated exchange of Bitcoin derivatives, Bitcoin Cash, Ethereum and Litecoin.