The landscape of cryptocurrencies in Venezuela remains dynamic and largely driven by economic necessity. Despite government attempts with crypto assets like the Petro, which has practically disappeared from the ecosystem, the adoption of decentralized cryptocurrencies like Bitcoin and others has continued to grow. This is mainly due to citizens' search to protect their purchasing power against persistent inflation and the devaluation of the bolívar, as well as the ease they offer for sending and receiving remittances, a vital flow for many families.
Although the visibility of "crypto accepted" in businesses has decreased due to changing regulations and corruption scandals, the "gray" P2P (peer-to-peer) exchange market continues to thrive, allowing discreet and efficient transactions. Venezuelans find in cryptocurrencies a tool to navigate the limitations of the traditional financial system and the restrictions imposed by international sanctions. Education in crypto assets, promoted by academic institutions, is also crucial to mitigate risks and encourage informed use. In this context, the community continues to explore the possibilities of blockchain technology to provide financial solutions.
