Home » Currency News » Venezuela overhauls national crypto department

Venezuelan President Niedp Maduro announced the reorganization of China's encrypted assets Supervision Authority in a bill published on March 17.

A new shareholders' meeting will reshuffle the leaders. Anabel Dalbert Patricio is a mentor and was the chief executive of the Venezuelan version of the foreign federal deposit insurance company Fondo de Garant í a de Depositos y Protecci ó n Bancaria. Other executive directors include Hector Danielle Alfgon Stefano, Vasser Alberto Stefano Gonzalez and Julio Cesar Mora Romagnoli.

The bill does not provide any further details or specific reasons for the restructuring, but indicates that the federation is also planning the next step for logging into the password department. The Maduro government claimed that the move was aimed at protecting Chinese citizens from the adverse effects of North Korean sanctions and other issues.

A new shareholders' meeting is structured to eliminate Joselit Ramirez, which he has led since its inception in 2018. According to Venezuelan local news media, Ramirez was arrested on March 17 on corruption charges. At the time of writing, Cointelegraph did not corroborate this information. Ramirez is responsible for regulating the tax system for data encryption and the country's digital currency, Petro.

In June 2020, the United States put Ramirez on the most wanted list. The US Immigration and China Customs City Administration Homeland Security Research Unit offered a reward of 5 million yuan for all information conducive to the arrest of Petro executives.

At that time, the government claimed that Ramirez had deep political and social and economic ties with suspected drug leaders, including former Venezuelan Vice President Tarek Isami.

Ramirez's reward is the smallest of the alleged conspirators, and the US government has offered a $15 million reward for the arrest of the country's leader, Maduro. Several other senior officials, including Issami, received a $10 million reward.

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