Since the arrest of Joselit Ramirez, the head of Venezuela's crypto assets, and President Maduro's order to reorganize the country's crypto regulators, the country's crypto ecosystem has been continuously hit hard. The new head of crypto assets has ordered the closure of all crypto exchanges registered with Venezuela’s national crypto asset regulator “Sunacrip.” While the move has yet to be officially confirmed, the Venezuelan National Cryptocurrency Association (Asonacrip) said the move is in the works because of an ongoing anti-corruption investigation in Venezuela. Prior to this, Sunacrip also announced that it ordered the closure of large cryptocurrency mining farms operating in several Venezuelan states.