For the week, Venezuelans traded 17.1 billion Bolivars for Bitcoins

The past week was the most active in terms of trading volume in Venezuela – almost 17.1 billion sovereign Bolivars were exchanged for bitcoins. In terms of Bitcoin, trading volume was 1 972 BTC. This is evidenced by the data site CoinDance.

In turn, the Venezuelan authorities have issued the “Constitutional Decree on the Integrated System of Cryptocurrency Assets”, which regulates the activities of Bitcoin exchanges and other crypto companies.

"Issue, use or mining of Petro and other cryptocurrencies without the proper permission of the governing body and in violation of other formalities prescribed in this resolution will be punished with a fine of up to $ 18,000," the document says.

However, experts say, the decree is unlikely to have a significant impact on p2p-services, such as LocalBitcoins. The attribution of Latin American people to cryptocurrency they explain the difficult economic situation due to sanctions and hyperinflation.

Recall that at the end of December 2018, Bitcoin turnover at LocalBitcoins in Venezuela was 1974 BTC .

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