It is legal or not to work with cryptocurrencies in Venezuela.

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According to Venezuelan laws, buying and selling cryptocurrencies is not a crime even though the government alleges that the only authorized currency for making economic exchanges and obtaining bolivars or dollars are these two.

Any income of bolivars for the use of another currency not authorized as example the cryptocurrency, will be the object of an intervention of your bank account to show where the funds came from and to say that it was for the sale of cryptocurrency acquired through any work on the Internet, there is no banking law that allows them eliminate the funds from your account, then you can enjoy your money and your funds.

In Venezuela it is not a crime to mine, but it is no longer profitable because of the cost of the equipment and the amount of profit, it does not give the basis for what the equipment cost and if it were to be damaged, it would not be enough to repair them, also the SEBIN is behind these people, confiscating the equipment and the Public Ministry can not charge them for crimes related to mining as such, as they do not get the crime to accuse. they accused them of electricity theft and if you do not have the invoices of the equipment they will claim that You have equipment coming from contraband, so try to take care of yourself if this is your case.

Now, thanks to the elimination of the currency exchange law now in Venezuela, the new exchange agreement in Venezuela establishes free convertibility of the currency in Venezuela, which would generate a new exchange opening in our country and could be bought and sold any type of cryptocurrency which will generate income when changing them to bolivares, through the exchange houses established on the internet.

On May 22, Menex was created a platform in which different types of cryptoactives can be exchanged. But beyond that, it allows the use of bolivars for the legal purchase and sale of these assets at a rate that will only determine the market.

This scheme could become a new mechanism to convert dollars into bolivars, by using currencies to acquire cryptocurrencies and then go to exchange houses and exchange them for bolivars at the rate that originates through supply and demand.

As in Venezuela there was no legal mechanism for the purchase of cryptocurrencies, people were reluctant to buy it, but now we are facing an open exchange, since the government has adapted a whole regulation for cryptocurrencies to circulate legally in the country, and I think this will help us get out a bit of the economic crisis in which we are immersed.

I think the cryptocurrency market is going to increase in Venezuela since 80% of the population does not know this as an alternative to the economic crisis we are experiencing.

"When they notice that there is a legal mechanism for currency exchange, they will begin to buy cryptocurrencies. "