Venezuela - Two cryptocurrency exchanges closed
The Venezuelan government shut down two cryptocurrency exchanges. Both exchanges allow customers to trade between multiple cryptocurrencies and Bolivar and allow citizens to remit money to the country.
Tarek William Saab, Venezuela's chief prosecutor, said that this week the new phase of the “paper hand operation” of the Venezuelan government has begun:
Saab stated that this action “is aimed at taking relevant measures against individuals and companies that have been misappropriated to spread false information about exchange rates,” he added.
Among the above three exchanges, the latter two are engaged in transactions between various cryptocurrencies and glass vals.
Saab pointed out that these exchanges operate through foreign-registered websites, Twitter accounts and other social networks, and stated that they use international parent company bank accounts in the United States, Chile, Ecuador, and Panama. Therefore, the repression only affected their actions in Venezuela.
He went on to say:
We closed three illegal exchanges: InterCash, Rapidcambio, and Airtm.In addition, he also said: "Paperman Action" is the largest anti-litigation in national history. So far 112 people have been arrested and 107 of them have been sent to court.
Saab stated that this action “is aimed at taking relevant measures against individuals and companies that have been misappropriated to spread false information about exchange rates,” he added.
We have frozen 1,382 bank accounts, and more than 71,719 million bolivars (about 10.6 million US dollars) have been frozen.In addition, he also stated that he requested the blockade of 247 bank accounts, the implementation of 40 new arrest warrants, and 104 surprise attacks.
Among the above three exchanges, the latter two are engaged in transactions between various cryptocurrencies and glass vals.
Saab pointed out that these exchanges operate through foreign-registered websites, Twitter accounts and other social networks, and stated that they use international parent company bank accounts in the United States, Chile, Ecuador, and Panama. Therefore, the repression only affected their actions in Venezuela.
He went on to say:
These accounts accept cash or transfer deposits and then convert them at a high and false exchange rate. I have talked with the President and will establish new detention centers for these criminals.Rapidcambio Exchange has closed. Rapidcambio announced on its website that it “has consistently displayed honesty, seriousness, and commitment, and has been providing services to all Venezuelaans abroad.” In addition, the company also stressed:
Our company has never set a market price, and our exchange rate has always been determined by the law of supply and demand. Unfortunately, due to the unfair treatment of the exchange government by the National Government of Venezuela, we need to close the company indefinitely.
