Venezuela’s National Authority for Crypto Assets and Related Activities (Sunacrip) plans to increase its control over transactions with digital currencies. This is reported by Bitcoin Insider with reference to an official document.

Thus, the agency aims to combat suspicious transactions using unauthorized cryptocurrency exchanges and fintech platforms.

The decree also includes the inclusion of various directives. FATF To Sunacrip’s workflows to detect money laundering and terrorist financing schemes.

According to media reports, the document has been signed by Sunacrip’s president, Joselit Ramirez. The investigation of the activities of unauthorized platforms is entrusted to the National Financial Intelligence Unit of Venezuela. The publication added that customers of such companies could face fines of up to $15,000.

Experts do not exclude that the new rules will affect major crypto exchanges that are not registered in Venezuela, such as Binance. To avoid sanctions, local residents will have to switch to less popular platforms.

At the time of writing, the document does not exist. It is also not published in the official media, which is a mandatory procedure for such articles.

Previously, the Venezuelan government approved a new tax on transactions using digital and foreign currencies.

Recall that the head of Sunacrip, Joselit Ramirez, has been included in the list of most wanted criminals by the US authorities since spring 2020. He is accused of running a “narco-terrorist partnership” with other top Venezuelan officials, including President Nicolás Maduro. A $5 million reward has been announced for anyone who provides information on Ramirez’s whereabouts.