• Nicolas Maduro, the president of Venezuela, has announced a reorganization and reorientation of the National Superintendency of Crypto Assets.
• Anabel Pereira Fernandez, a lawyer and head of Fondo de Garantia de Depositos y Proteccion Bancarai (FOGADE), will lead the board in charge of this restructuring.
• Joselit Ramirez was arrested on charges related to corruption and removed from his position as head of Sunacrip.
Venezuela’s Restructuring of Crypto Asset Department
President Maduro’s Decree
Nicolas Maduro, Venezuela’s president, has decided to restructure and reorient the National Superintendency of Crypto Assets. The decree was issued in March of this year.
The Board Leading the Reorganization
The reorganization of the crypto asset department will be headed by the new board, led by Anabel Pereira Fernandez, a lawyer who has served as president of the Fondo de Garantia de Depositos y Proteccion Bancarai (FOGADE). Other project directors were Hector Andres Obregon Perez, Julio Cesar, Luis Alberto Perez Gonzalez, and Mora Sanchez. According to the decree issued on March 17th, the board is set to schedule upcoming steps for the crypto department.
Motivation Behind Reorganization
This move comes after the Venezuelan president wanted to take actionable steps to ensure the safety of the country’s citizens from all the negative impacts of economic sanctions imposed by United States on Venezuela in 2014 for its alleged history history human rights violations, corruption and erosion its democratic institutions.
Joselit Ramirez Excluded From Overhaul
The crypto overhaul shall not include Joselit Ramirez who had previously headed it since its establishment. Joselit Ramirez was arrested on March 17 based on corruption charges as per Venezuela’s local media sources. Authorities claimed Ramirez had political social and economic ties to a supposed drug racket.
Reward Offered For His Capture
Ramirez was added to Most Wanted List in June 2020 with Homeland Security Investigations division United States Immigration Customs Enforcement agency offering reward close $5 million exchange information leading his capture