Venezuelan government approves new tax on cryptocurrency and foreign currency transactions

On February 7, the Venezuelan government has approved a new tax that will affect foreign currency transactions and cryptocurrency transactions. Approved by the country’s National Assembly, the new tax stipulates that any transaction or payment in foreign currency or cryptocurrencies, with no quantitative limit, must be paid up to 20% per transaction, depending on the nature of the transaction and the amount of the transaction. company or individual. It is reported that the tax is designed to incentivize people to use their own currency.