Greenland vs Venezuela
Crypto regulation comparison
Greenland
Venezuela
No Data
Legal
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Venezuela has a unique crypto history. The government launched the Petro (PTR) state cryptocurrency in 2018, backed by oil reserves, though it was widely considered a failure and discontinued. SUNACRIP regulates crypto activities and has licensed mining operations. Venezuelans have high crypto adoption due to hyperinflation, with USDT widely used as a de facto currency. Crypto mining requires a SUNACRIP license.
Tax Type
Unclear
Tax Type
Income
Tax Rate
N/A
Tax Rate
Up to 34%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
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Regulator
SUNACRIP (Superintendencia Nacional de Criptoactivos)
Stablecoin Rules
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Stablecoin Rules
Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
Key Points
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Key Points
- SUNACRIP regulates crypto exchanges, mining, and service providers
- Government-backed Petro cryptocurrency launched in 2018, largely discontinued
- Crypto mining requires SUNACRIP license and registration
- Very high crypto adoption driven by hyperinflation; USDT widely used
- Income from crypto subject to progressive tax rates up to 34%
Sources
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