Excerpt from ccn dot com:
Politicians won't stop being funny.
The government is basically trying to Centralize Cryptocurrencies it wishes to control.
It is probably an attempt to get rid of transparency and other important features of decentralized Cryptocurrency in order to manipulate the Cryptocurrencies as they wish and possibly destroy them like the national fiat that currently has no value.
Not necessarily,Venezuela is known for it's current inflation crisis.It may be just a legit step to fight against their problem by generalizing the use of cryptocurrencies.I mean,yeah it may destroy decentralization at some point,but they don't have much of choice actually.
This is their last attempt, grasping at straws. They've kind of backed themselves into a corner with the hyperinflation as money can't hold the value of the paper it's being printed on anymore. Is it necessarily a bad thing though? I'd say it's a step forward because they are moving crypto into the mainstream.
However, the centralized nature of it will be a signal to other countries as well: we can still control our money even if it is digital. You'll probably see Sweden or Norway try something similar next.
This is where the market is heading. Crypto is becoming controlled by the banks.