📢 Are cryptocurrencies legal in Venezuela? 2026 guide
Yes: in Venezuela, it is legal to buy, hold, sell, and pay with cryptocurrencies. The current framework is the 2019 Constituent Decree on the Comprehensive Cryptoasset System, and no regulation prohibits individuals from holding bitcoin or USDT. The only prohibited activity is mining. In this guide, we explain what the law says, where things stand…
Buying, holding, and paying with cryptocurrencies is legal in Venezuela; mining is prohibited. What the law says, the status of SUNACRIP, what taxes you pay, and what changed in 2026.
The essentials
Yes: buying, holding, selling, and paying with cryptocurrencies is legal in Venezuela; the framework is the 2019 Constituent Decree on Cryptoassets.
Bitcoin mining has been prohibited since May 2024, and the government reaffirmed the ban in May 2026.
SUNACRIP has been under intervention since 2023 but still grants licenses; crypto payments to special taxpayers are subject to a 3% IGTF tax.
Yes: buying, holding, selling, and paying with cryptocurrencies is legal in Venezuela. The current framework is the 2019 Constituent Decree on the Comprehensive Cryptoasset System, and no regulation prohibits individuals from holding bitcoin or USDT. The only prohibited activity is mining. This guide explains what the law says, SUNACRIP’s status, what taxes are paid, and what changed in 2026.
The short answer
What the law says
SUNACRIP in 2026: under intervention but active
Bitcoin mining is prohibited
Taxes: IGTF and ISLR
The end of the petro
What changed in 2026
The risks that do exist
Frequently asked questions
The short answer
Buying, holding, and selling crypto: legal.
Paying with crypto at businesses: legal; special taxpayers pay a 3% IGTF tax on these payments.
Using exchanges and P2P markets: legal, although the law requires platforms operating in the country to be licensed by SUNACRIP.
Bitcoin mining: prohibited since May 2024, a ban the government reaffirmed in May 2026.
What the law says
The Constituent Decree on the Comprehensive Cryptoasset System (Official Gazette 41.575, 2019) regulates cryptocurrency activity and assigns the National Superintendency of Cryptoassets and Related Activities (SUNACRIP) the task of authorizing and supervising service providers: exchanges, currency exchange houses, and miners. The decree does not prohibit individuals from buying or using cryptocurrencies; it regulates businesses.
In 2022, SUNACRIP Resolution 054 warned that using unauthorized platforms could result in fines of 100 to 300 petros, based on Article 42 of the Law Against Organized Crime, CriptoNoticias reported. The petro ceased to exist in 2024, so it is now unclear how such a fine would be calculated, and we found no public cases of users being penalized for using an international exchange.
SUNACRIP in 2026: under intervention but active
SUNACRIP has been under intervention since March 2023, when the PDVSA-Crypto case broke, leading to the arrest of its then-superintendent, Joselit Ramírez. Since then, it has operated under an intervention board and a restructuring that the government has extended by decree every six months: Acceso a la Justicia documented the extensions in September 2023, March 2024, and September 2024.
Even so, the agency continues to issue authorizations. The Venezuelan app Kontigo is licensed as an exchange through January 8, 2027, and the exchange house Crixto operates under a valid license, according to CriptoNoticias. In June 2026, National Assembly Innovation Subcommittee member Genkerve Tovar announced technical working groups to draft a new law or reform the legal framework; as of October 2026, no bill had been introduced.
Bitcoin mining is prohibited
In May 2024, the Ministry of Electric Energy, with support from Corpoelec and the Public Prosecutor’s Office, ordered mining farms to be disconnected; more than 2,300 machines were seized in Maracay alone, according to iProUP. On May 7, 2026, the ministry reaffirmed the “absolute ban” on mining and announced monitoring and sanctions. Despite this, Hashrate Index data that we analyzed for our Latin America mining ranking show that clandestine activity continues to grow.
Taxes: IGTF and ISLR
Cryptocurrencies are taxed like any other asset. Cryptocurrency payments to special taxpayers are subject to a 3% Large Financial Transactions Tax (IGTF), in effect since March 2022; since July 2024, transactions in bolivars have been subject to a 0% IGTF. Gains must be declared on the ISLR tax return, which is due by March 31 each year. We explain this in detail in our guide to cryptocurrency taxes in Venezuela.
The end of the petro
The petro, the cryptocurrency launched by the Venezuelan state in 2018, ceased to exist: PetroApp closed on January 15, 2024, and balances in bitcoin, litecoin, and dash were converted to bolivars on the Patria platform. No current regulation requires the use of a state cryptocurrency.
What changed in 2026
Public banks on Binance P2P: following the U.S. OFAC General License 57 (April 14), which authorizes financial services involving the BCV, Banco de Venezuela, Banco del Tesoro, and Banco Digital de los Trabajadores, Binance once again accepted these banks as payment methods on its P2P market starting April 15.
Foreign exchange mechanism at banks: on April 24, the acting president of the BCV, Luis Pérez González, announced that they were designing a system to buy and sell foreign currency through banks and exchange houses, but provided no details.
The gap with USDT: the digital dollar still costs more than the official rate. Today’s figure:
Today’s figure · Criptoinforme Digital Dollar Index
Venezuela, as of October 13 (6:00 p.m. Bogotá time): Official BCV rate: Bs 876.80 · USDT (P2P median): Bs 1,012.00 · Premium: +15.4%
See the 8 countries and the methodology →
The risks that do exist
The fact that crypto is legal does not mean there are no risks. In May and June 2025, the prosecutor’s office arrested around 50 people accused of promoting the “parallel dollar,” including account administrators who posted exchange rates on social media, according to AFP. In addition, anyone who sells USDT on the P2P market may receive bolivars from illicit sources and end up with their bank account frozen. To operate with less risk, use exchanges that verify users’ identities and see our guide to the best exchanges in Venezuela.
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