FILE PHOTO: Venezuelan dissident Leopoldo Lopez attends a joint meeting with Cuban dissident Yunior Garcia at the Politics Faculty at Madrid's Complutense University, in Madrid, Spain, December 13, 2021. REUTERS/Juan Medina/File PhotoVenezuela's use of digital currencies, expected to increase after the United States ordered a wind-down of oil deals with the sanctioned country by May 31, will require greater scrutiny by regulators and law enforcement, experts said on Monday.
Venezuelan opposition politician Leopoldo Lopez and expert Kristofer Doucette presented a report on Monday detailing transactions since Venezuelan President Nicolas Maduro took office. Democratic governments should counter his attempts"to exploit cryptocurrency for moving illicit proceeds into the international financial system," the report said.
Technology for digital transactions is changing fast and transactions are rapidly growing in developing regions including Latin America and Africa benefiting people without access to the banking system. But some corrupt governments are moving faster, making it difficult to prevent fraud, the experts said.
Source: Digital Coin News (digitalcoinnews.net)
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