Venezuela Overhauls Crypto Dept After Arrest Of Top Crypto Authority

• Joselit Ramirez, the top authority on crypto policies in Venezuela, has been removed from his position and arrested for suspicion of participating in a scheme to steal from Venezuela’s oil operations.
• The Venezuelan government has called for a comprehensive restructuring of the Superintendency of Crypto Assets and Related Activities (SUNACRIP).
• A new board headed by Anabel Pereira Fernández will lead the organization going forward.

Joselit Ramirez Removed from Position

Venezuela’s top authority on crypto policies, Joselit Ramirez, has been removed from his position and arrested for suspicion of participating in a scheme to steal from Venezuela’s oil operations. Venezuelan president Nicolas Madura removed Ramirez from his position for allegedly participating in a plan to steal from the country’s oil operations.

Venezuela Overhauls Crypto Department

Decrypt reports Ramirez’s removal does not affect only him but also a large portion of the department. The Venezuelan government has called for a comprehensive restructuring of the Superintendency of Crypto Assets and Related Activities (SUNACRIP). According to the SUNACRIP Restructuring Decree, the board will plan the next steps for the department.

President Madura’s Statement

President Madura declared: That 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.

New Board Established

The restructuring will be coordinated by a mixed commission comprising a president and four directors endorsed by Madura. The Ministry of Economy, Finance, and Commerce will supervise the operation. A new board headed by Anabel Pereira Fernández will lead the organization going forward. Amongst other members are Héctor Andrés Obregón Pérez, Luis Alberto Pérez González and Julio César Mora Sánchez.

Official Statement Awaited

President Madura has not yet issued an official statement on this matter yet; however it is believed that Ramirez was involved in acts corruption as reported by local media publication Últimas Noticias which stated that Venezuelan authorities are investigating into $3 billion which were diverted so as not appear in government’s official accounts .