CRYPTO-LEGAL FRAMEWORK◆ Venezuela


#1


#2

Interesting article.
Looking similar to the China model.
Seems as if you’re not street legal, you dont get crypto.
KYC/AML is everything.
Electroneum, Leading the pack! !
Enjoy
:chipmunk::chipmunk:


#3

Very interesting , and it should be this way unless people have things to hide .

Kyc is the way forward

Protects the people and pays the bills


#4

The great thing to bear in mind here is that we’ve got a team which can evaluate and meet regulatory requirements as needed. It’s great to look back on the decisions made by Electroneum to prepare for things like this, as it really goes to show just how forward thinking they are.


#5

Thing with Venezuela.
You got bitcoin dash and digibyte (that I know of)
Waiting to bust down the gates.
Are you ready? Awww we got no KYC
We are!!
Ching ching!!
First mover advantage
Go ETN!!
:chipmunk::chipmunk:


#6

When ETN did the KYC it did prov that it is possible to do it whit crypto. That means that KYC is also a cryptostandar even if other coins like it or not. So in nice words ETN did say to other cryptos that they could sit on it and rotate. All other crypto got to option, to do or not to do, we did it :slight_smile:


#7

I thought I heard Richard say that ETN may not target Venezuela as Dash seems to want to make its home there…he was like no worries plenty of other markets. Having said that its kinda up to the people too and if they decide to use ETN over the others which would be easier due to the lower price we might make big inroads there anyway.

It does seem like there is no escaping KYC though. There has to be some customer protections in place though - its nice to think about a free world where we can use what crypto we want but really when it comes to humans they will mess it up and aren’t ready for that kind of freedom.


#8

Yeah, its the peoples choice in the end
(The MVNO of course)
Its just good to see acceptance due to regulation.
Its a good model for say india to follow.
Its a start.


#9

It will happen - its just boring waiting haha. We all want it now.


#10

Im cool with it,
Nothing is going backwards.
The media were about to get will nudge it nicely.


#11

Maybe I don’t know geo politics well enough, but the first thing that comes to my mind on the Venezuela issue, is that the US is not too happy with them right now, and while I see Venezuela as a perfect locale to forward ETN, I would hate to be a sticking point for the US government. Wasn’t there some Venezuelan oil crypto recently? How did that turn out? 1 coin/1 barrel?


#12

Should be ok as ETN is a UK based company anyway. Unless they introduce sanctions in the UN that ETN is obligated to follow in which case they would have to figure out how to block all ETN transactions in that country which might actually be impossible. Man I love this dumb planet filled with humans haha Nowhere else in the universe can you make up the kind of stupidity that we manage to…At the end of the day the people will just do what they want I feel. If ETN has value and use case they will just use it anyway.


#13

The way the SEC has been flexing it’s muscles on crypto makes me wonder how much sway they could have over us on a global level.


#14

not sure but ETN is doing the right thing compared to other crypto so hopefully we will be ok


#15

If anyone escapes the wrath of coming regulation, it’s us.


#16

Okay, good comments all.
Juan Guaido-The opposition leader that took over fromMaduro was Trump backed.
Petro was the first cryptocurrency that Maduro released.


#17

Petro, that’s the name I was looking for.


#18

#19

Interesting it says that anyone mining must register there but I wonder if they see cloud mining as mining or as an air drop…


#20

Very good point.
This is a point that may or may not have been “clinically orchestrated” particularly for regions with" floating" regulations.