Consumer accounts linked to cryptocurrency trading, especially those involving peer-to-peer (P2P) transaction activity, have attracted the attention of Venezuelan banks.
Private banks in Venezuela have frozen more than 75 accounts to enable crypto-to-fiat and fiat-to-crypto transactions since the end of 2021, claims LegalRocks, a crypto and blockchain-focused law practice in Venezuela. .
Banks in Venezuela are paying more attention to frequently involved accounts Bitcoin Exchange. More than 75 cases of funds frozen or under investigation have been registered since the end of 2021, according to a blog post by Venezuelan law practice Legalrox, which specializes in cryptocurrencies and blockchain.
Ana Ojeda: It is unfair to close these accounts
According to Ana Ojeda, CEO of LegalRocks, closing these accounts to collect fiat money in exchange for cryptocurrencies cannot be justified. Still, she says, the situation changes if there is strong indication that the money spent in these transactions is connected to illegal or criminal activity.
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