Venezuela Certifies 16 New Cryptoexchanges After Crackdown

The Venezuelan government has certified 16 new exchanges following the exchange crackdown that happened this week when two important cryptocurrency exchanges were closed and its bank accounts seized by Venezuelan authorities. This new development hints at a new approach of the government at exchanges and trading in general.
Venezuelan President Nicolas Maduro made the announcement yesterday when he was at the opening of Expo Venezuela Potencia 2018, an exposition that shows the possibilities of what Venezuela as a country can do in different fields. He also stated that these crypto exchange’s first goal will be to secure the trade capabilities of the Petro, the Venezuelan Official cryptocurrency, for the whole world.
According to a report of a local source, the cryptocurrency exchanges authorized by the Venezuelan government are the following: Crypto Exchange, Criptocapital, Asesoría Financiera C.A., Italcambio, Criptolago, Criptoactivomenex C.A., Criptomundo Casa de Intercambio C.A., Inversiones Financieras 1444 C.A.
The Venezuelan government has also announced in the same opening that they have received more than 3,338 million dollars in the presale of the Petro cryptocurrency, and they affirmed that more than half of it has already been used for social purposes.
Maduro’s declarations imply that the license given to these exchanges is heavily conditioned to them listing the Petro as the first exchange option for their clients, something that a lot of international exchanges have refused to do. Even Bitfinex outed a communicate last month about this, denying their intention of listing the Petro because it has “limited utility”.
This will also imply that the government will have a firm grip on the cryptocurrency exchange rates by controlling the “certified” exchanges. This will mean that an exchange rate for bitcoin and other crypto assets could be set at any moment, and it will have to be exerted by exchanges if they don’t want to be closed or incur into sanctions. This would be the first time that an exchange control is set at cryptocurrencies prices in the whole world.

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