Venezuela Extends Reorganization Shutdown of Crypto Agency to March 2024

Venezuela was one of the pioneering countries in Latin America to create a regulatory body for cryptocurrency, launching the Superintendencia Nacional de Criptoactivos (Sunacrip) in 2018. However, the government recently announced that it will require an additional six months to reorganize this entity, which was shut down in March 2023.

According to a presidential decree issued on September 19, President Nicolás Maduro has mandated the extension of the reorganization period for Sunacrip. This new extension officially commenced on September 17 and will continue until March 24, 2024.