Is crypto legal in Venezuela?

Crypto is legal in Venezuela. The country has a specific crypto regulator, the Superintendencia Nacional de Criptoactivos (Sunacrip), and as of October 2026 it licenses crypto platforms. The state's own crypto project has ended, though, and mining has faced a crackdown.

Is bitcoin legal in Venezuela?

Yes. Venezuela regulates crypto under a 2019 constituent decree on the comprehensive crypto asset system. Sunacrip issues operating licenses under that decree. On January 2, 2026, for example, it granted the platform Crixto a license valid until December 31, 2026, covering exchange between bolívars and crypto, peer-to-peer trades, custody, over-the-counter deals and payments, CriptoNoticias reported. The license requires compliance with anti-money-laundering rules.

What happened to Sunacrip and the petro?

Sunacrip was shut for a forced reorganization in March 2023 after a corruption scandal involving its former leadership. At least 10 people were arrested, and prosecutors said Joselit Ramírez, who had led the agency since 2018, stole more than $3 million, Cointelegraph reported. The shutdown disrupted the sector, and some exchanges and mining sites were ordered to stop.

The petro, a national token the government launched and tied to oil reserves, did not survive. Patria, the only platform where it could be traded, said it would close on January 15, 2024, Central Banking reported. By January 22 its website was offline.

Is bitcoin mining legal in Venezuela?

Mining has been squeezed hard. In May 2024 the Ministry of Electrical Energy said it would disconnect all crypto miners from the national grid, citing grid stability. The week before, authorities had seized more than 2,300 mining machines in Maracay, The Energy Mag reported. The crackdown targeted grid power, and off-grid mining did not appear to be covered. For the global picture, see is crypto mining legal.

Does bitcoin work in Venezuela?

Crypto is widely used, though mostly through dollar stablecoins rather than bitcoin. The Atlantic Council said in November 2025 that Venezuelans increasingly use Tether's USDT in place of scarce physical dollars. Authorized banks and exchange houses sell USDT to private companies for bolívars, and an estimated $119 million in crypto was sold to the private sector in July 2025 alone.

The state oil company PDVSA has also taken USDT for oil sales since 2024, while under US blocking sanctions imposed in 2019, according to the same analysis. Tether had frozen 41 wallets linked to evading those sanctions by 2024.

For how other countries handle crypto, see is cryptocurrency legal and crypto regulation around the world.

Rules differ by country and change often. Check the regulator or a qualified professional for your own situation.