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

According to CriptoNoticias, the real estate market in Venezuela is accelerating the adoption of BTC and stablecoin USDT for property transactions. Fernando Di Jerónimo, president of the Caracas Metropolitan Real Estate Chamber, 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 Las Mercedes commercial district.

It is reported that these transactions are conducted through cryptocurrency exchanges for instant payments, covering a range 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 "Cryptocurrency Assets Law" since 2020, the relevant regulatory provisions are still not well-developed, lacking the integrity of a legal framework. He also warned that the lack of regulation could lead to some transactions evading taxes.