In a context of increasing exchange rate volatility in Venezuela, the cryptocurrency exchange platform Binance P2P has issued a strong statement announcing "penalties" for those merchants who artificially manipulate the prices of offers. This measure seeks to counteract the inflation of parallel dollar prices, a factor that has led Lara merchants to adopt the euro as a reference currency.
The Binance P2P statement details that repeated practices have been detected that "undermine the transparency and balance of the ecosystem." Specifically, the platform points out two critical points: Creation of ads with prices significantly higher than the market average, with the apparent aim of altering or manipulating the perception of price and misuse of filters to maliciously limit the majority of users, preventing them from making offers.
Binance P2P has been clear in its warning: "From this moment on, any Maker who posts an ad with an artificially inflated price (even if it remains active for a few seconds and claims it was an 'error') will be subject to penalties." The platform emphasizes that this behavior not only violates its guidelines but also "negatively affects the trust and proper functioning of the entire P2P community."
The penalties that may be applied include temporary account blocking, loss of badges and associated benefits, and even the suspension or permanent blocking of access to the trading platform. The company reiterates its commitment to maintaining a "fair, safe, and transparent environment for all users," and thanks for the understanding and cooperation to preserve the integrity of the market.
At a time when the instability of the Venezuelan exchange market, driven by "websites and applications that promote a 'criminal dollar'," has led merchants in states like Lara to seek alternatives, such as adopting the euro as a reference currency for their prices, due to the scarcity of dollars in banking institutions and the disparity with the official rate of the Central Bank of Venezuela (BCV). Binance's measure seeks, in part, to mitigate the influence of these practices that distort the real value of the currency.
Read also: Lara merchants adopt the Euro as a reference rate due to Dollar disparity
Economic uncertainty and the constant search for mechanisms to protect the value of transactions reflect the resilience and adaptation of the Venezuelan commercial sector in a challenging environment, where the officialization and transparency in the foreign exchange market remain key aspirations.
