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Venezuelan President Nicolas Maduro discussed the possible future of the national cryptocurrency system following the so-called PDVSA-Crypto scheme, which resulted in the loss of $20 billion in unaccounted oil sales paid in crypto. Maduro stated that the country needed to retake the crypto path but gave no indications regarding the revival of the national cryptocurrency … Read more
The government will spend six additional months to ‘reorganize” the entity, which de-facto stopped its work in March 2023. Go to Source
According to Venezuela’s attorney general office, government officials were running parallel oil operations with the assistance of the national crypto department. Go to Source Powered by WPeMatico
The new board leaves out Joselit Ramirez, who led the department since its inception in 2018. Go to Source Powered by WPeMatico
Vueling, a low-cost Spanish airline, has announced it is exploring the functionality of blockchain and NFT (non-fungible token) technology to accept cryptocurrency as a means of payment for its services. The company enlisted the aid of Criptan, a registered Spanish cryptocurrency exchange, and aims to open this payment option for users by Q3 2023. Vueling … Read more
The victory President-Elect Luis Inacio Lula Da Silva obtained on Oct. 30 over the incumbent Jair Bolsonaro in Brazil might open the gates for the proposal of a single currency for the countries of Latam. Lula announced this as part of his campaign, preaching the utility of a common currency as a way of fighting … Read more
Sunacrip, the Venezuelan cryptocurrency watchdog, has announced a set of improvements to its Petroapp wallet, allowing Venezuelans to use the petro (PTR) for new functions. The app now has an embedded cryptocurrency exchange that allows users to exchange petros for other currencies, and a series of gift card and payment options to increase adoption. Petro … Read more
The new decree that makes official the recently announced Venezuelan minimum monthly wage rise has been revealed in the Official Gazette, with no mention of its supposed peg to the petro, the national cryptocurrency. The law published mentions that the wage will be 130 VES, using the national fiat currency as a unit of account, … Read more
Nicolas Maduro, president of Venezuela, announced an increase in the minimum wage of workers in the country linked to the petro. In the II Workers’ Congress, Maduro revealed that the new value of the salary would be half a petro, the national cryptocurrency, which is now worth close to $59. This constitutes an increase of … Read more
Bitcoin adoption has been on the rise in Venezuela in recent years amid hyperinflation and the national currency crisis. Go to Source Powered by WPeMatico
