Venezuela updates providence for cryptocurrency remittances
Through the Official Gazette No. 41,955 dated September 1st, 2020, the adjustments for sending remittances in petro (PTR) were announced
The Patria Platform announced that as of the publication in Official Gazette No. 41,955 on September 1st, 2020 of Providence No. 057-2020 of the National Superintendency of Crypto Assets and Related Activities, th Government started to strengthen both the Cryptocurrency Remittance Platform and the Currency and Cryptocurrency Exchange System.
The petro, the Venezuelan cryptocurrency, has received a boost from the government as an instrument of exchange and savings. In terms of remittances, the most notable changes include the increase in the maximum amount allowed for a remittance, which goes from 10 to 14 PTR.
On the other hand, the possibility is opened for the Cryptocurrency Remittance Platform to consult the issuer if the remittance will be received in Bolívares, the local currency of the South American country, in Sovereign Crypto Assets (Petro) or the cryptocurrency itself, which in this case would be bitcoin and litecoin.
Another change is that the platform is allowed to “have the cryptocurrencies received to participate in the Currency and Cryptocurrency Exchange System and thereby advance in strengthening the so-called Patria Exchange.”
It has also been reported that in the short term, the platform will begin work to update the reception of remittances, “the creation of wallets in bitcoin and litecoin, the integration of these with the PetroApp and the incorporation of the exchange pairs PTR / BTC and PTR / LTC.
M.Pino
Source: Finanzasdigital
