According to local media reports, the top Venezuelan authority on cryptocurrency regulation has been dismissed from his position and also arrested for corruption. Joselit Ramirez, the former National Superintendent of Crypto Assets and Related Activities, has been removed by the president of the country himself.
Notably, the removal affects not only Ramirez but also a major portion of the institution’s management staff, as it calls for a comprehensive restructuring of the National Superintendency of Crypto Assets and Related Activities (SUNACRIP). Sources reveal that Ramirez has been arrested for his participation in a scheme to steal from Venezuela’s oil operations.
The government of Venezuela also published an official gazette informing the masses of Ramire’s removal. However, the Venezuelan president has not yet issued an official statement, nor has the government provided reasons for Ramirez’s removal.
According to local media reports, the former official was arrested by the National Anticorruption Police after the issuance of a request for judicial proceedings against “a series of citizens who could be involved in serious acts of administrative corruption and embezzlement of funds.”
Reportedly, the local media explains that Venezuelan authorities are investigating a corruption scheme through which $3 billion from Venezuelan oil sales were diverted so as not to appear in the official accounts of the Venezuelan government. Additionally, analysis of the SUNACRIP Restructuring Decree could similarly support such theories. The decree adds that the functioning of the administration “will tend towards the rational use of human, material, and budgetary resources.”
In the official gazette released by the government, President Maduro stated:
It is the duty of the State to take all measures at its disposal to protect the Venezuelan people from the negative effects of the multiform aggression that is taking place against the country and, especially, against its economy.
To ensure a smooth restructuring of the crypto regulating group, a mixed commission has been formed, which consists of a president and four directors endorsed by Maduro who will be supervised by the Ministry of Economy, Finance, and Commerce.
Reportedly, the new candidate for taking over Ramirez’s position has already been announced. Anabel Pereira Fernandez is the new National Superintendent of Crypto Assets and Related Activities for Venezuela. She is ought to be an experienced leader with a list of dignified positions in government offices including the President of the Social Protection Fund of Bank Deposits (Fogade) and the Head of the Superintendence of Institutions of the Banking Sector Venezuela (Sudeban), among several other positions.
Joselit Ramirez took over his position in June 2018, replacing Carlos Vargas, a former congressman, and member of the opposition party Un Nuevo Tiempo, whom the government tasked with coordinating the creation of the national cryptocurrency “Petro.” Ramirez was responsible for the installation of the National Crypto Assets System and promoting the legal framework that governs the cryptocurrency ecosystem in the country, as well as its ancillary regulations.
While Venezuela was moving towards cryptocurrencies at its own pace, its dwindling economy forced it to be cautious in its approach. In December, Todayq News reported that banks in Venezuela have been paying closer attention to accounts that frequently participated in crypto transactions.
At that time, more than 75 cases of accounts have been stopped or are under investigation that has been registered since the end of 2021. Hence, the change of powers at such a time could play a crucial role in the future of cryptocurrencies in the nation which can only be found eventually.