Editor’s Note: This article has been updated to include a rebuttal from the CEO of Cryptobuyer denying rumors of the exchange closures (despite Cryptobuyer tweeting earlier about the closures), as well as an update from Asonacrip on the states where mining farms have been closed.

From crypto paradise to crypto chaos—the situation for cryptocurrency enthusiasts in Venezuela has been anything but good in recent days.

Following the arrest of Joselit Ramirez—Venezuela’s Superintendent of Cryptoassets—and President Nicolas Maduro’s order to restructure the country’s crypto regulatory agency, every day has brought bad news for the national crypto ecosystem.

Most recently, the new Superintendent of Cryptoassets is apparently unhappy with the way the industry has developed and ordered the closure of all cryptocurrency exchanges registered in Venezuela with Venezuela’s National Superintendency of Cryptoassets “Sunacrip”—the country’s crypto regulator.

Although the drastic move has not been officially confirmed, Venezuela’s National Association of Cryptocurrencies told to Decrypt that such actions are taking place, as the country advances an anti-corruption investigation that has so far cut off the proverbial heads of Joselit Ramirez and his political protector Tareck el Aissami, the Minister of Energy and Petroleum.

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Author: Jose Antonio Lanz

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