Venezuelan Government Targets Black Market Exchange Rates

The Venezuelan government’s crackdown on unofficial exchange rates has intensified. The move targets the social media account ‘Monitor Dolar,’ which provided real-time black market bolivar exchange rate information, leading to the arrests of nearly twenty individuals associated with it. Cryptocurrency platform El Dorado, another key source for Monitor Dolar, shut down its operations within Venezuela following these arrests. As a result, Venezuelans are increasingly turning to alternative exchange platforms, including cryptocurrency exchanges.