You Must Be Alert... Take Care 👀
Yes, in Venezuela there are significant legal risks for buying and selling dollars through WhatsApp, especially if done publicly, frequently, and using the parallel exchange rate instead of the official one. Here I explain in detail:
⚖️ 1. **Legal Basis and Prohibitions
- **Unauthorized financial intermediation**: The Law of Banking Sector Institutions (in effect since 2014) establishes penalties of **8 to 12 years in prison** for those who engage in unauthorized financial intermediation, which includes the frequent buying and selling of currencies without permits.
