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Venezuela’s president Nicolas Maduro has ordered the country’s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation’s own petro. In addition, he has announced the launch of another cryptocurrency, this time backed with gold. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Maduro’s Orders … Read more
Venezuela has announced that the pre-sale of its oil-backed cryptocurrency, the petro, has attracted $735 million on the first day. The government has also published a buyer’s manual and confirmed that buyers can use “hard currencies and cryptocurrencies, but not bolivars.” Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Petro Pre-Sale Starts The private … Read more
Venezuela says it has found a number of foreign investors for the pre-sale of its “oil-backed” national cryptocurrency, the petro. Starting this month, Venezuela is expected to pay companies from Brazil, Poland, Dinamarca, Honduras, Norway, Vietnam, and other nations for food and medicine imports with the petro. Also read: Japan’s DMM Bitcoin Exchange Opens for Business … Read more
Venezuela’s president Nicolás Maduro has announced the pre-sale of his country’s national oil-backed cryptocurrency, the petro. In addition, he has presented and signed the official petro’s whitepaper and unveiled the Petro Container for mining the new currency. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Pre-Sale of Petro During the meeting of … Read more
Washington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the impossibility of actual redemption. The attempt will fail, if it’s ever rolled out, adding woes to a region … Read more
The Venezuelan parliament has declared the oil-backed cryptocurrency created by President Nicolas Maduro illegal and in violation of the country’s Constitution. Maduro’s decree to create the national cryptocurrency, the petro, has been declared null and void. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Venezuelan Parliament Declared … Read more
The first issue of Venezuela’s national cryptocurrency has been ordered by President Nicolás Maduro. He has also called for the first national meeting of the petro’s miners where he will release the whitepaper for the new currency. Also read: Venezuela Unveils Mining, Trading, and Launch Details of National Cryptocurrency 100 Million Petros Incoming On Friday Venezuela’s … Read more
The Venezuelan government has published a decree outlining the operation of Venezuela’s national cryptocurrency, the Petro. It details the government’s plans for the new currency, including its issuance, mining, and trading. In addition, the Petro will be backed by 5 billion barrels of crude oil. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, … Read more
Venezuela’s president Nicolas Maduro has advanced the creation of the country’s national cryptocurrency, the Petro. He believes it will take off and solve the country’s economic problems next year, but experts are concerned with corruption. Moody’s credit rating agency, for example, says market participants would have no confidence in Maduro’s government to manage it. Also … Read more
