Venezuela will launch a global ‚decentralised stock exchange‘.
On the „Venezuela Decentralised Stock Exchange“ it will be possible to exchange both digital assets and fiat currencies.
Venezuela’s National Securities Superintendency has given the green light to a 90-day pilot project for a „decentralised stock exchange“ that aims to spread worldwide despite international sanctions.
Cointelegraph Spain reports that the Official Gazette of the country, in issue no. 6,578 published on 29 September, contains the authorisation to operate the „Decentralised Stock Exchange of Venezuela“.
The platform is called BDVE: its website claims that it is „the first global decentralised stock exchange“ and points out that users will be able to access it „from anywhere in the world, without restrictions“. Both fiat currencies and „alternative digital assets“ will be exchanged on BDVE:
„[BDVE] represents a new and innovative segment of the stock market which, through the use of new information and communication technologies, provides investors with full security and control over their financial assets“.
The local regulator will determine whether the BDVE will be licensed to continue operating after the end of the 90-day pilot.
The platform’s vademecum explains that the securities traded will also include ERC-223 and ERC-721 tokens, as well as a third „modular“ token. Although the document does not contain the word Ethereum, it refers to the well-known standards for writing Ethereum tokens (ETH): this could imply that the platform was built on that blockchain.
Surprisingly, the document makes no mention of Petro, the Venezuelan national cryptocurrency anchored to the South American nation’s oil reserves.
Venezuelan President Nicolás Maduro recently announced a new „anti-sanction bill“ to mitigate the impact of economic sanctions imposed by the United States.
The proposal, currently under review by Venezuela’s National Constituent Assembly, highlights how crypto, both private and public, could be used to support the country’s economy by circumventing sanctions:
„The anti-sanction bill is the first proposal […] to strengthen the use of Petro and other national and international crypto-currencies in domestic and foreign trade, so that all the crypto-currencies in the world, both public and private, can be used. This is an important project that is under development“.