The Venezuelan state oil company, PDVSA, confirmed last week the start of negotiations for the sale of crude oil to the United States, under a strictly commercial operating scheme, similar to the one used with Chevron.

This was confirmed by PDVSA in a statement. Meanwhile, US Energy Secretary Chris Wright indicated that Washington will control the marketing of Venezuelan oil “indefinitely.”

“We are going to put the crude oil that is coming out of Venezuela onto the market, first this oil that is currently stuck, and then, indefinitely going forward, we will sell all the production that comes out of Venezuela on the market,” Wright stated at a Goldman Sachs energy conference in Miami.

Consequently, the sale of Venezuelan crude to US refineries and around the world will be permitted, “but those sales will be made by the US government and the proceeds will be deposited into accounts controlled by the US government.”

M.Pino

Source: elnacional

(Reference image source: Moritz Kindler on Unsplash)

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La entrada Venezuelan state oil company PDVSA confirms negotiations with the United States for oil sales apareció primero en Bitfinance.

Venezuela has a new organization to regulate and strengthen the crypto ecosystem. The exchange platforms with operations in the country recently created the National Association of Cryptocurrency Exchange Houses and Related Activities, Acincrip, which seeks to replace Sunacrip.

This is a new association that “was born with the intention of strengthening the institutionalization of the Venezuelan crypto ecosystem.”

Through a statement, Acincrip highlighted that its goal is to “contribute to the development and construction of a safe and reliable environment so that users, entrepreneurs and supervisors can contribute technology and knowledge for the development of the national economy.”

Likewise, the Fair Directive of the entity declared that they work together with the competent authorities to create a regulatory and operational framework that allows the good development of companies in the Venezuelan cryptocurrency ecosystem.

Acincrip is a non-profit association that emerged after the intervention by the Venezuelan government of the National Superintendency of Cryptocurrencies and Related Activities (Sunacrip), which is still under the “tutelage of the Restructuring Board chaired by Dr. Anabel Pereira according to Presidential Decree No. 4,865 published in the Official Gazette No. 42,717. That said, it should be noted that all organizations registered with Acincrip are still licensed and under the supervision and control of Sunacrip.”

Eleazar Colmenares, CEO of Cryptobuyer Venezuela, is the president of Acincrip, which groups all active crypto exchanges in the country. The association has the operational and technological capacity to strengthen the Venezuelan crypto ecosystem, which provides “a transparent, regulated and legal service to all cryptocurrency users in Venezuela while providing employment, contributing to the growth of the economy, and offering investment tools and means of payment.”

M.Pino

Source: cointelegraph

(Reference image source: Dmytro Demidko, Unsplash)

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La entrada Venezuela creates the National Association of Cryptocurrency Exchanges apareció primero en Bitfinance.

The OpenSea platform, the main marketing route for NFTs, announced changes to its security policies to combat the sale of stolen products or products suspected of being illegal.

Asset theft remains the top crime in the non-fungible token market. Among the most affected companies is OpenSea, which has been involved in complaints of phishing and other mechanisms used by cybercriminals.

The company is taking steps to combat the trading of stolen assets, including the use of police reports to confirm reports of stolen items within the platform.

OpenSea fights against the trading of stolen assents

OpenSea’s policy adjustments are also aimed at giving users confidence, as in the past some people were penalized for purchasing stolen items, despite not being aware of such irregularity.

In this sense, the company has said that if a complaint is not verified in a period of seven days, it will approve the trading of products again. And if there are stolen items, once they are recovered, it will enable the purchase and sale.

Regarding the fight against the mechanisms most used by cyberattackers for their criminal acts, such as phishing, OpenSea had already implemented the function that allows suspicious transactions to be immediately hidden. From the company they have indicated that this mechanism will also be enabled soon on issues such as copyright theft, ad blocking and fraudulent advertising.

M.Pino

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Source: bit2me

La entrada OpenSea updates its policies for NFT theft apareció primero en Bitfinance.

Venezuelan inflation has been decelerating compared to previous years. It is estimated that by the end of 2021 it will close at levels close to 1,400 or 1,500 %. This was stated by the CEO of the consulting firm Aristimuño Herrera & Asociados, César Aristimuño, who believes that next year could be much better as long as an appropriate legal framework is granted to the dollarization process that the country is experiencing, which has no reverse because it is society itself that has imposed it.

“We are observing that the rise in prices of products in dollars is moving much less than what they are rising in bolivars, and that will become more and more regular to the extent that stability is granted to the dollar as a unit of account, as a means of payment, as a store of value, with all the functions that money actually fulfills,” said the economist.

According to his analysis, if the dollar begins to behave in a “more transparent manner”, the transactions, contracts and agreements that are made with this currency will precipitate. There should be clearer rules “that companies can bill in dollars without problems, that there is no uncertainty of knowing whether or not it is legal. We are sure that, if that happens, inflation next year will register a very accelerated fall.”

The representative of the consulting firm highlighted: bank deposits in foreign currency already represent 61 % of deposits and that will continue to rise. We foresee that at by the end of the year it could be between 75 or 85 % of the total deposits” of the national financial system.

He additionally pointed out the existence of a working capital in the national economic market that ranges from 3,000 to 5,000 million dollars, which represents a fairly considerable figure and is favorably impacting the environment because it gives it greater stability.

Digital Bolívar

The economist Aristimuño considers that the digitization of the currency is a worldwide movement, as a consequence of technological development. Hence, the means of digital payments such as credit and debit cards, transfers or mobile payments will increase every day, at the same time as physical money, bills and coins, will disappear from the global economy.

That is why the news about the digital bolívar does not surprise anyone. “That is a process that is going to deepen,” he pointed out. Although in the country financial entities continue to issue cash for some time, the inhabitants will use it less every day.

M. Rodríguez

Source: bancaynegocios.com

La entrada Venezuelan inflation could close between 1,400 and 1,500 % by December apareció primero en Bitfinance.