The cryptocurrency exchange is developing at an express rate, as evidenced by the fact that the cryptocurrency market may soon be “enriched” with another country, i.e. Venezuela, which recently activated a 90-day test period for a decentralized and Ethereum token-based stock market, which will offer “alternative digital assets” as well as fiat currencies. The Venezuelan cryptocurrency stock exchange In recent times, the National Securities Superintendency in Venezuela (the Securities and Exchange Commission there) issued a 90-day trial for a new and decentralized BDVE cryptocurrency exchange.
One of the advantages of the exchange is that it can be accessed anywhere and without any restrictions. On the other hand, the turnover on the stock exchange will focus equally on fiat currencies, as well as on alternative digital assets. The creators of the stock exchange say that BDVE is an unprecedented and innovative segment of the equity market, which, through new information and communication technologies, guarantees not only security and peace of mind for each investor but above all full control over their financial assets and portfolio. After the test period has ended, and all circumstances have been considered, the National Securities Superintendency will grant or refuse a license for the BDVE stock exchange. What is the secret of the BDVE platform? According to information provided by stock exchange makers, platform-based securities will have the ERC-223 or ERC-721 tokens, which allows us to assume that the platform will be based on the technology used in the Ethereum (ETH) tokens.
However, it remains unclear whether the new stock market will allow its user to use the National e-currency Petro, which is the world’s first national digital currency. Why did Venezuela take such intensive steps in the area of cryptocurrencies? The reason is simple. The cryptocurrency exchange is intended to allow Venezuela to avoid severe economic sanctions imposed on the country by the United States. The seriousness and scale of the problem are demonstrated by Venezuela’s adoption of a new anti-sanctions law designed solely to limit the effects of said sanctions. This law contains i.e., a statement saying that private cryptographic assets and those supported by the State will allow trade to avoid severe US sanctions, which as was mentioned above, is the main cause of Venezuela’s interest in the cryptocurrency market. And you? What do you think about cryptocurrency exchanges? Let us know in the comments!