After seeing numerous posts on social media regarding this matter, it is important to clarify a few points: The Official Gazette of Venezuela, dated March 31, 2025, number 43-1098, does not contain specific information on the ban on cryptocurrencies in Venezuela. According to the Official Gazette, the resolution focuses on regulations regarding the administration and supervision of money laundering, terrorist financing, and financing of the proliferation of weapons of mass destruction (WMD) risks applicable to banking institutions.
That said, how does it affect us and what can we do to avoid falling under bank supervision?
Simple: the same recommendations as usual when starting a transaction in P2P commerce.
1. Do not respond to external requests: Avoid any offers to buy or sell cryptocurrency that do not come from Binance P2P, as scammers often use social media or groups to attract victims.
2. Check the merchant's reputation: Before making a transaction, look for users with high ratings and a history of successful transactions.
3. Do not release cryptocurrency until payment is confirmed: Never release cryptocurrency before verifying that the payment has been received and is available in your bank account or wallet.
4. Avoid including cryptocurrency use in the subject line. You can include any other subject line. Simply payment, fees, consulting fees, etc.
5. Do not transfer your money to third-party accounts. Remember that the account you transfer must match the BINANCE account holder.
6. For me, one of the most important is not to use a Venezuelan bank account for P2P trading.
Remember, don't be misled by recent headlines. Cryptocurrency use hasn't been banned in Venezuela; it's possible that it will now be more heavily regulated. But as long as you make your transactions with verified merchants and comply with minimum security rules, everything should be fine.
Finally, don't forget that if your account is blocked by the bank, you must justify the origin and destination of those funds.
And you, do you have any other advice to avoid an audit?
