The Venezuelan real estate market is accelerating the adoption of BTC and the stablecoin USDT for property transactions.

ChainCatcher news, according to CriptoNoticias, the Venezuelan real estate market is accelerating the adoption of BTC and the stablecoin USDT for property transactions. Fernando Di Jerónimo, president of the Caracas Metropolitan Chamber of Real Estate, confirmed that real estate transactions using cryptocurrencies have become frequent in the country, mainly concentrated in high-end areas of the capital such as Chacao, Baruta, El Hatillo, and the Las Mercedes business district.

It is reported that these transactions are carried out through cryptocurrency exchanges with instant payments, covering various types of properties from residential apartments to office buildings, with many transactions completed in installments by overseas buyers. Di Jerónimo stated that although Venezuela has had the "Crypto Assets Law" since 2020, relevant regulatory provisions are still incomplete, lacking a comprehensive legal framework. He also warned that the lack of regulation may lead to some transactions evading taxes.