January 2019 Managerial Alerts
ACCOUNTS IN FOREIGN CURRENCY WITH THE NATIONAL FINANCIAL SYSTEM An Official Notice, issued by the Venezuelan Central Bank (“VCB”), was published in Official Gazette No. 41.575 of January 30, 2019. Said Official Notice establishes that the holders of more than one account in foreign currency held with the National Financial System (“NFS”) may make…
CONSTITUENT DECREE ON THE INTEGRAL SYSTEM OF CRYPTOASSETS The Constituent Decree on the Integral System of Cryptoassets, issued by the National Constituent Assembly, was published in Official Gazette No. 41.575 of January 30, 2019 (the “Decree”). Said Decree established the regulatory frame applicable to the Integral System of Cryptoassets. The sphere of application of…
TRANSACTIONS OF SALE OF FOREIGN CURRENCY WITH UNIVERSAL AND MICROFINANCIAL BANKS Resolution No. 19-01-04, issued by the Venezuelan Central Bank (“VCB”), was published in Official Gazette No. 41.573 of January 28, 2019 (the “Resolution”). The Resolution established that the VCB may automatically make transactions of sale of foreign currency with universal and microfinancial banks…
DECISION NO. 0883 ISSUED BY THE CONSTITUTIONAL CHAMBER OF THE SUPREME TRIBUNAL OF JUSTICE Decision No. 0883 of December 13, 2018, issued by the Constitutional Chamber of the Supreme Tribunal of Justice, was published in Official Gazette No. 41.571 of January 24, 2019. Said decision declared the partial annulment on grounds of unconstitutionality of…
VALUE OF UNIT FOR ARITHMETCAL CALCULATION OF MAXIMUM AND MINIMUM THRESHOLD (UCAU) Joint Resolution No. 001/2019 and No. 004/2019 (the “Resolution”), issued by the Ministry of the Popular Power for Planning and the Ministry of the Popular Power for Economy and Finance, respectively, was published in Official Gazette No. 41.567 of January 18, 2019.…
