Experts, politicians call for scrutiny of Venezuela's use of cryptocurrency

Article

Name

Description

Venezuela's use of digital currencies, expected to increase after the United States ordered a wind-down of oil deals with the sanctioned country by May 31, will require greater scrutiny by regulators and law enforcement, experts said on Monday.

Types

Article

Avatar

Publish date

Month

Day

2024

Year

Publisher

Reuters

Referenced by

Venezuelan opposition politician warns of crypto use for money laundering

Crypto

News story

Doucette and Sigal Mandelker, a lawyer who previously worked at the U.S. Treasury Department, said during a conference organized by the Wilson Center in Washington that the U.S. administration is making efforts to increase regulation and encourage other countries to improve supervision.

Crypto

Quote

Technology for digital transactions is changing fast and transactions are rapidly growing in developing regions including Latin America and Africa benefiting people without access to the banking system. But some corrupt governments are moving faster, making it difficult to prevent fraud, the experts said.

Crypto

Quote