Decentralized Stock Exchange Testing Launched in Venezuela

Venezuela’s National Securities Authority announced the launch of a 90-day test of the “decentralized stock exchange” BVDE.

The site testing report was published in the official state newspaper of Venezuela. One of the goals of the development of the BVDE decentralized exchange was to provide access to the country’s securities bypassing international sanctions. Trading using both fiat currencies and digital assets will be available on the site. Based on the results of the pilot project, the regulator will determine whether it is worth issuing a license to continue operations to BVDE.

“BDVE represents a new and innovative segment of the stock market. Using new data and technologies, it provides investors with secure access and control over their financial assets, ”the newspaper said.

According to the instructions , securities on the platform are presented in the form of tokens of the ERC-223 and ERC-721 standards, or in the form of tokens of a certain third standard. The document does not mention Ethereum, but the use of ERC standards tokens suggests that the platform is built on the basis of this particular blockchain. It is also interesting that the instructions do not mention the national cryptocurrency of Venezuela El Petro.

As previously reported , the Crypto-Assets and Related Operations Authority (Sunacrip) will regulate all types of mining activities in Venezuela.

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