Nicolás Maduro and the United Socialist Party of Venezuela have been accused of circumventing financial blockades imposed by the U.S. government. According to local reports, Maduro’s regime evades sanctions with cryptocurrency alongside an airline application called Jetman Pay. Allegedly, Jetman Pay collects airline taxes from travelers who purchase tickets from Maiquetía International Airport and the Venezuelan government agency Sunacrip converts the tax money into BTC and sends the funds to regime accounts in Russia, China, and Bulgaria.
As the Venezuelan Inflation Rate Jumps to 10,000,000%, Sunacrip Collects Taxes in Crypto
The state of the Venezuelan economy and political system has been in disarray and the whole world has been watching the events unfold. The country’s legal tender, the sovereign bolivar, has suffered from massive hyperinflation and the Venezuelan fiat currency recently reached an inflation rate of 10,000,000%. Venezuelan President Nicolás Maduro has been a controversial leader who recently introduced the first nation-state issued cryptocurrency, the petro. There’s been a lot of conflicting reports concerning the petro and the government agency behind the operation called Sunacrip. The National Superintendency of Crypto Assets and Related Activities (Sunacrip) agency manages the petro distribution and the collection of other cryptocurrencies. Through Sunacrip and other state-sanctioned cryptocurrency exchanges, Venezuelans can supposedly obtain petro by purchasing the Venezuelan digital currency with assets like BTC and LTC. Venezuelan native Pedro Peroza believes that Sunacrip was implicitly built to collect taxes using various cryptocurrencies.
“Sunacrip is promoting a remittance exchange platform using bitcoin,” Peroza explained five months ago. “I believe that its main objective is the collection of taxes in cryptocurrency, for that, a law was approved in the ANC (National Assembly Madurista) where what stands out is the collection of taxes.”