Crypto Remittance Regulations Starts in Venezuela

Cryptocurrency remittances to be regulated by the Venezuelan government with a month limit and commission of up to 15% of the transaction amount will be collected. The decree stated, “The sender of the remittances referred to in this ruling is obliged to pay a financial commission up to a maximum amount of 15% calculated on the total of the remittance.”

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Crypto Remittance Regulations Starts in Venezuela

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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