Venezuela plans to limit the number of cryptocurrency exchanges, which will be available Petro

Venezuela plans to limit the number of cryptocurrency exchanges, which will be available Petro

The Venezuelan government may limit the number of internal cryptocurrency exchanges, which will be available a new national cryptocurrency Petro.

According to the page guidance, published last week in connection with the recently launched cryptocurrency Petro, only eight exchangers may be initially approved to operate in this market.

In a document released on 20 February, detail the requirements that must be met for a local cryptocurrency exchange and exchangers. After the first 90 days, the Venezuelan government might change the number of allowed exchanges.

Sources inside the country claim that this number may be further reduced.

According to Daniel Arraes, co-founder BlinkTrade, the government may limit the number of cryptocurrency exchanges and exchangers. BlinkTrade offering software with open source bitcoin exchange, has launched SurBitcoin in Venezuela in 2014 and is applying for a job with Petro in accordance with the new licensing terms.

Arraez said that the change in regulation may be a good opportunity for market operators, but only if the exchangers are transparent and perceived as legitimate Venezuelan government.

We believe that the current change in regulation is a positive change.

We are already in talks about how to start work as soon as possible. We believe that the market will be safe and we can guarantee the safety of our customers funds.

It remains unclear the exact number of exchangers, where it will be available to new cryptocurrency, after its public launch. Similarly, it is unclear which stock exchange and the exchangers are in talks with the government on this subject. While local news media reports that on 21 February, Maduro said that the government is negotiating with 35 major cryptocurrency exchanges and exchangers.

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