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Venezuela will track all cryptocurrency transactions in the country

Through transactions, they will track smuggling.

17.Jun.18 9:48 PM
By Jeff Bannister


Venezuela will track all cryptocurrency transactions in the country
The Venezuelan government began tracking down the bank accounts of its citizens intending to suppressing cryptocurrency transactions. According to La Red, the primary goal of this step is to reduce the outflow of finance abroad. This was announced by Nicholas Maduro's deputy Tarek El-Aissami, who is acting as vice-president of the country.

This decision was made within the framework of the "Operation Paper Hands" program, aimed at combating gold buyers, for its subsequent sale abroad. According to Tarek El-Aissami, the mafia buys gold and exports it abroad and uses the crypto-currency to destroy the country's financial system and manipulate the dollar.

Now Venezuela will track transactions and hold those who sell digital coins at inflated prices to account. At the first stage of the operation, the Venezuelan special services froze 5 billion bolivars in the Banesco bank and seized 12 trillion Bolivars from the contraband lot. Besides, three companies engaged in illegal money transfers, including two crypto-currency platforms, were closed. All legitimate Venezuelan sites are in Caracas. At the moment, only three rigs are officially operating in the country.

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