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Have cryptocurrencies been banned in Venezuela?
After seeing many posts about this on social media, it is important to clarify some points: The Official Gazette of Venezuela dated March 31, 2025, number 43-1098, does not contain specific information about the prohibition of cryptocurrencies in Venezuela. According to the Official Gazette, the resolution focuses on the rules regarding the management and supervision of the risks of money laundering, financing of terrorism, and financing of the proliferation of weapons of mass destruction, applicable to institutions in the banking sector.
That said, how does this affect us and what can we do to avoid falling under supervision by the bank?
Simple: the same usual recommendations when starting a transaction in P2P trading.
1. Do not respond to external requests: Avoid any buying or selling offers for cryptocurrencies that do not come from Binance P2P, as scammers often use social media or groups to lure victims.
2. Verify the merchant's profile: Before conducting a transaction, look for users with high ratings and a history of successful transactions.
3. Do not release cryptocurrencies until payment is confirmed: Never release cryptocurrencies before verifying that the payment has been received and is available in your bank account or wallet.
4. Avoid stating the use of cryptocurrencies in the subject line. You can use any other subject, simply payment, fee payment, advisory payment, etc.
5. Do not transfer your money to third-party accounts, remember that the account to which you transfer must match the holder of the BINANCE account.
6. For me, one of the most important, do not use a bank account from Venezuela in P2P trading.
