In the midst of the economic blockade imposed by foreign sanctions, Venezuela did not give up. It chose to innovate. And in that decision, SUNACRIP (National Superintendency of Crypto Assets) emerged as a key institution for the country's financial future.
"SUNACRIP represents a national regulatory structure with the power to promote economic independence through the use of decentralized technologies," stated Venezuelan analyst José Ángel Álvarez, president of Asonacrip.
🔐 Why is it crucial?
1. Licenses for exchanges: SUNACRIP has granted regulatory licenses to exchanges operating in the country, allowing legalized, traceable transactions with government backing.
2. Coverage against sanctions: In the absence of traditional banking channels, cryptocurrencies have become a real alternative for businesses, remittances, commerce, and even productive projects.
3. Clear legal framework: Unlike countries where crypto regulation is diffuse or nonexistent, SUNACRIP has established rules that allow for operation with legal certainty.
📉 The international context, for you to understand a bit:
The sanctions imposed by the U.S. and other international actors have blocked access to the SWIFT system, limited the circulation of the dollar, and impacted key imports.
But thanks to the crypto ecosystem and an institution like SUNACRIP, Venezuelans are not only surviving: they are creating a new financial model.
