Venezuela Imposes Fees and Limits on Local Crypto Remittances

Venezuela introduces rules for sending crypto remittances, imposing taxes and fees.

The Venezuelan government has introduced regulations for crypto remittances within the country, according to a decree published on Feb. 7 in the country’s official media outlet, Gaceta Oficial.

According to the document, the National Superintendency of Crypto Assets and Related Activities (SUNACRIP) will now be responsible for taxation related to the sending and receiving of cryptocurrencies. The new legislation will reportedly be applied both to individuals and legal entities.

According to the new requirements, the state has set out monthly limits and commissions, payable to SUNACRIP, on cryptocurrency remittances.

The decree states that the maximum fee for a transfer has been set at 15 percent. The rules also indicate that the minimum fee for a transaction in crypto is equivalent to 0.25 euros, or approximately…

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2019-02-11 20:43:00

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Written by Cointelegraph

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