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Various countries continue to oppose cryptocurrencies. Venezuela has become a notorious example in that regard. In a recent turn of events, the government is now targeting companies who pay employees in Bitcoin. One company has been officially sanctioned for doing so. Things got so bad that numerous employees were laid off in the process. Venezuela … Read more
Venezuelan P2P trade continues to flourish despite government efforts to drive adoption of the country’s controversial oil-backed cryptocurrency Go to Source Powered by WPeMatico
Because of an order emitted by Venezuela’s President Nicolas Maduro, the country’s leading bank Banco de Venezuela will accept the Petro Go to Source Powered by WPeMatico
In the midst of a severe economic depression and the devaluation of the Venezuelan bolívar, bitcoin cash (BCH) supporters have been teaching people about the benefits of using permissionless cryptocurrencies throughout the country. The BCH meetup in Venezuela has swelled to 349 registered participants and group coordinator Lizbeth Alviarez has recently detailed that dedicated members … Read more
Venezuelan residents see fresh sales pitch for state-run crypto Petro from president Maduro as he announces new bonus plan Go to Source Powered by WPeMatico
A bipartisan group of senators in the United States are seeking strong sanctions against Venezuela’s Petro. The proposed sanctions would extend an executive order from March to prohibit U.S. residents from providing software to the Venezuelan government in its efforts to launch the Petro. Also Read: Venezuela Demands Citizens Pay for Passports With Petro U.S. Lawmakers … Read more
Financially troubled Venezuela, which is introducing the new, denominated, crypto-anchored “sovereign bolivar” this week, is also the birthplace of a number of alternative coins beside the state-issued, oil-backed national cryptocurrency, El Petro. Crisis-hit Venezuelans are actually using some of them in real life, according to the local crypto community. Also read: Coinhive Mints Quarter … Read more
Announcing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin. … Read more
In today’s Bitcoin in Brief we mention some optimistic mid to long term predictions for crypto markets. And while decentralized currencies are hurting in a bearish month, the prospects for state-issued virtual money look even dimmer. Another senior Swiss central banker has noted the diminishing enthusiasm of governments to mint digital coins. Venezuela gives an … Read more
Reuters reported Switzerland is formally considering the possibility of a state-backed cryptocurrency. Its government has asked legislators commission a study on the pros and cons of a Swiss “e-franc.” Also read: Alec Baldwin’s Lambo Movie Backed by Crypto Tech Switzerland Considers State Backed E-Franc Switzerland’s Federal Council explained why it was asking for a formal … Read more
