Venezuela regulates crypto through SUNACRIP under the 2018 constituent decree on crypto-assets, but SUNACRIP has been under a government-ordered restructuring since March 2023 (Decree 4.788) after a corruption case, which suspended licensed exchanges and mining. The environment remains restrictive, with sanctions and capital controls.
| Status | Restricted |
| Risk Score | 67/100 (High Risk) |
| Region | south america |
| Currency | VES |
| Adoption Rank | #10 |
| Capital Gains (Personal) | Taxed as ordinary income at progressive rates up to 34%; no separate capital gains tax |
| Capital Gains (Corporate) | 34% ISLR corporate tax |
| VAT on Crypto | No |
| Staking Tax | No specific guidance |
| Airdrop Tax | No specific guidance |
Venezuela has no separate capital gains tax: crypto gains are taxed as ordinary income at progressive rates up to 34% for individuals and 34% for companies. Mining and exchange activity required SUNACRIP licensing, which has been disrupted by the SUNACRIP restructuring since 2023.
| Required | Yes |
| Regulator | SUNACRIP / BCV |
| Framework | Decree on Crypto Assets (2018); SUNACRIP regulations |
| Ease | hard |
| Cost (USD) | $5,000 - $50,000 |
SUNACRIP was created to oversee crypto activities. The Petro was the world's first state-issued cryptocurrency (now largely defunct). Mining requires SUNACRIP registration. The environment is complicated by sanctions and capital controls.
SUNACRIP has imposed mining licensing and fees. Government has cracked down on unlicensed mining operations.
| KYC Required | Yes |
| Travel Rule | No |
| FATF Member | No |
| FATF Status | grey_list |
| FATF Body | CFATF |
| Suspicious-Activity Reporting | Yes |
Status: Unclear
No specific DeFi regulation. DeFi is used to circumvent capital controls.
Status: tolerated_informal
The Petro was terminated January 16, 2024. Dollar-pegged stablecoins (primarily USDT) have become quasi-official: PDVSA adopted USDT for oil payments to subcontractors in 2024, extended to private currency exchanges in June 2025. Banks are integrating Bitcoin and stablecoin services via blockchain system (Conexus) as of Q4 2025. No formal stablecoin legal framework enacted. Use is pragmatically tolerated rather than regulated.
Status: no_rules
No regulation.
| Legal | Yes |
| Electricity Cost | $0.002/kWh |
| Renewable Energy | 68% |
| Infrastructure | fair |
Mining is legal but heavily restricted and regulated by government decree; electricity is extremely cheap due to subsidized rates; infrastructure is limited but improving in urban centers.
| Stability | unstable |
| Sanctions | Yes |
| Corruption Index | 14/100 |
| Banking Access | very_restricted |
| Sanctions Program Active | Yes |
Risk Factors
Venezuela faces severe economic and political challenges including US/EU sanctions, hyperinflation, and capital controls, which heavily impact crypto businesses and mining operations.
Recent Political Events
Venezuela regulates crypto through SUNACRIP under the 2018 constituent decree on crypto-assets, but SUNACRIP has been under a government-ordered restructuring since March 2023 (Decree 4.788) after a corruption case, which suspended licensed exchanges and mining. The environment remains restrictive, with sanctions and capital controls.
Venezuela is classified by FATF as: grey_list.
Yes, licensing is required for VASPs.
KYC is mandatory for crypto businesses.
Soken combines Web3 security engineering and crypto-legal counsel: two specialised tracks, one team. Pick the side that matches your need.
VASP licensing, jurisdiction analysis, AML/KYC, legal opinions, company registration and banking access.
Explore Legal Services → IT & SecuritySmart-contract audits, penetration testing, Web3 development, AI/LLM security audits.
Explore IT Services →Last reviewed: 2026-09-25 · Data source: Soken Crypto Legal Map
← Back to Crypto Map