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Venezuelan Crypto Traders are in Trouble As Govt Hunts Them

Venezuelan Vice President Tareck El Aissami has revealed that bank accounts found to contain crypto transactions at prices which the government considers to be “undermining the national currency” will be “severely punished.”

What that therefore mean is that, a very close marking will be given to monitor citizens bank accounts by the Government.

Venezuelan government has started the next phase of its plan to reduce capital flight, calling it “Operation Metal Hands.”

“Operation Paper Hands,” was launched last week with a focus on what they call “gold smugglers,” or Venezuelans who bought gold from small miners and then sold it outside of the country. The operation has “detected that these mafias have distorted the prices of the dollar,” the country’s Vice President Tareck El Aissami declared, adding that “they have migrated through the market of cryptocurrencies to hit the Venezuelan monetary system.”

Those trading cryptocurrencies “at speculative prices” are therefore in trouble as they could face governmental punishment if caught, according to the Venezuelan Vice President.

“This is part of a war to hit the financial system of the country,” Aporrea publication stated, “and they [the government] will exercise future actions to hit those who try to conspire through cryptocurrencies.” The Vice President was quoted by La Red publication: “All the accounts that we identify that are linked to the manipulation are going to be severely punished and (those responsible will be) placed at the order of justice.”

He revealed that, as part of Operation Paper Hands, “5 billion bolivares [~US$50,000] in bank accounts were frozen at Banesco bank, and 12 trillion bolivares [~$120 million] were seized that were destined for contraband in Colombia,” Aporrea publication conveyed.

Don’t you thinkthat  Venezuelan Government monitoring citizens bank accounts Is just too much?

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Written by Russell


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