【The Venezuelan real estate market is rapidly adopting BTC and stablecoin USDT for property transactions】
The Venezuelan real estate market is rapidly adopting BTC and stablecoin USDT for property transactions. Fernando Di Jerónimo, the president of the Caracas Metropolitan Real Estate Chamber, confirmed that property transactions using cryptocurrencies have become frequent in the country, primarily concentrated in high-end areas of the capital such as Chacao, Baruta, El Hatillo, and the Las Mercedes commercial district.
It is reported that these transactions are conducted through cryptocurrency exchanges for instant payments, covering a range of properties from residential apartments to office buildings, with many transactions completed in installments by overseas buyers. Di Jerónimo stated that despite Venezuela having the "Cryptocurrency Asset Law" since 2020, the relevant regulatory framework is still not well developed, lacking the completeness of a legal framework. He also warned that the lack of regulation could lead to some transactions evading taxes.
