Russia Not Ready for the Petro, Proposes Plan to Aid Venezuela Without It
Acknowledging Venezuela’s efforts to deal with inflation and sanctions by creating a state-issued cryptocurrency, Russian officials have nevertheless declined a proposal to use the oil-backed coin in bilateral trade. According to Russian media, Moscow has recently offered Caracas a set of measures aimed at mending the country’s economy but the petro is not among the […]
The post Russia Not Ready for the Petro, Proposes Plan to Aid Venezuela Without It appeared first on Bitcoin News.
Completing a project to build 3 million homes for its suffering population is the next big initiative Venezuela wants to finance with its digital currency, the petro. The socialist government in Caracas says there is enough money and materials to fulfill the main objective of the “Great Housing Mission.” Also read: Crypto-Friendly Statesman Takes Over Swiss […]
Venezuelan President Nicolas Maduro has been tirelessly promoting the petro, ever since his administration announced the creation of what is now considered the first state-issued cryptocurrency. Although no one is really sure whether the coin actually works, Venezuelans have already seen their salaries denominated in the national crypto and their pensions converted to petro. Imposing […]
Venezuelan President Nicolas Maduro’s move to increase the price of the petro, the country’s oil-backed cryptocurrency, has sparked intense debate. Experts and tech-savvy Venezuelans alike are less than enthusiastic about the decision. Also read: Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double Venezuelans Unimpressed by Proclamation Venezuelans blasted Maduro and his new cryptocurrency after […]
Venezuela’s President Nicolas Maduro has announced that the price of the petro, his country’s national “cryptocurrency,” has been increased from 3,600 sovereign bolivars to 9,000. While the wallet for the petro is still unavailable, the Venezuelan government continues to sell the digital currency and issue certificates of purchase to buyers. Also read: Indian Supreme Court Moves […]
A government plan to counter economic sanctions is coming into force in Venezuela after parliament passed a law on crypto asset regulation. The law, originally proposed by the country’s leader Nicolás Maduro, gives legal effect to the petro, Venezuela’s multi-asset-backed digital currency. Also read: Nigeria’s Opposition Leader Promises Cryptocurrency Policy If Elected President ‘Breaking Financial and […]
Venezuela’s controversial national cryptocurrency, the petro, is slowly permeating the everyday lives of its citizens. The currency, each unit of which is supposedly backed by a barrel of oil, has begun appearing on screens when Venezuelan customers log in to their bank accounts. The move marks the latest attempt by President Nicolás Maduro’s government to […]
The Venezuelan government has opened up an exchange desk for the country’s national cryptocurrency at the headquarters of the Superintendency of Cryptoassets. According to the government, investors can now purchase the petro with a number of fiat currencies and cryptocurrencies. Delegates from China have reportedly purchased some with yuan. Also read: Yahoo! Japan Confirms Entrance Into […]
Venezuela has authorized six cryptocurrency exchanges to start selling its national cryptocurrency, the petro, according to the government’s website. The petro, which recently became a Venezuelan national currency, can now be purchased at the six exchanges, local media report. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Six Websites Authorized to Sell Petro The […]
