Venezuelan Real Estate Market Embraces Cryptocurrency Transactions

According to ChainCatcher, the Venezuelan real estate market is increasingly adopting Bitcoin (BTC) and the stablecoin USDT for property transactions. Fernando Di Jerónimo, president of the Caracas Metropolitan Chamber of Real Estate, confirmed that the use of cryptocurrencies in property deals has become frequent, particularly in upscale areas of the capital such as Chacao, Baruta, El Hatillo, and the commercial district of Las Mercedes. These transactions are conducted through cryptocurrency exchanges for instant payments, covering a range of properties from residential apartments to office buildings. Many of these deals are completed by overseas buyers through installment payments. Di Jerónimo noted that although Venezuela has had a "Crypto Assets Law" since 2020, the regulatory framework remains incomplete, lacking comprehensive legal guidelines. He also warned that the absence of regulation could lead to some transactions evading taxes.