The government of Venezuela may limit the number of domestic crypto-exchanges, where the new national cryptocurrency Petro will be available.

The document about new crypto, issued on February, 20, stated that eight exchanges can be initially approved for work in this market. It also details the requirements which must be met by the local currency exchanges. After the first 90 days, the Venezuelan government can change the number of admitted exchanges, according to Coindesk.

According to BlinkTrade co-founder Daniel Arraes, the government can limit the number of authorized crypto-exchanges to less than that figure. A change in regulation could be a good opportunity for market operators, but only if the exchangers are transparent and perceived as legitimate by the Venezuelan government, Arraes explained.

"We're already in conversations to operate as soon as possible. We feel the market is going to be safe and we can get operational guarantees to safeguard our customers' funds and safety." — told he to CoinDesk.

It remains unclear the exact number of exchangers where the new cryptocurrency will be available after its public launch, as well as what exchanges are negotiating with the government.

Source:

https://www.coindesk.com/venezuela-may-move-limit-new-crypto-exchange-launches/