カテゴリー: Nicolas Maduro

Venezuela: Petro Can Be Converted Into Any Cryptocurrency If Bought This Year

Venezuela: Petro Can Be Converted Into Any Cryptocurrency If Bought This YearThe Venezuelan government has announced that its national digital currency, the petro, can be exchanged into any cryptocurrency if purchased this year. However, the wallet for the petro is still not available and petro buyers receive certificates of purchase. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space ‘Special Period’ Venezuela’s president, Nicolas Maduro, visited […]

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Venezuelan Banks Start Using the Petro to Denominate Customer Balances

Venezuelan Banks Start Using the Petro to Denominate Customer BalancesVenezuela’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 […]

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Venezuela Begins Public Sale of National Cryptocurrency Petro

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 […]

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Venezuela Authorizes 6 Exchanges to Start Selling National Cryptocurrency Petro

Venezuela Authorizes 6 Exchanges to Start Selling National Cryptocurrency PetroVenezuela 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 […]

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Venezuela Demands Citizens Pay for Passports With Petro

Venezuela Demands Citizens Pay for Passports With PetroVenezuelan authorities have found another way to impose the adoption of the state-issued cryptocurrency, the petro. Citizens will soon have to pay with the government-controlled digital coin if they want to obtain a travel document. Hundreds of Venezuelans are leaving the crisis-hit country every day. Also read: New Stablecoins: From Cryptopound and Metal-Backed Swiss Coin […]

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Venezuela’s Petro Copied Dash, Claims Ethereum Developer

Venezuela’s Petro Copied Dash, Claims Ethereum DeveloperAn Ethereum developer is claiming the state-backed petro (PTR) cryptocurrency, a plaything to Venezuelan President Nicolas Maduro, has taken substantial amounts of its newly published whitepaper from Dash (DASH). Indeed, at least at first glance, it does appear there are close similarities between the altcoin and the world’s first national cryptocurrency.    Also read: Bitcoin Cash […]

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Venezuela Makes Petro Crypto a National Currency, Publishes New Whitepaper

Venezuela Makes Petro Crypto a National Currency, Publishes New WhitepaperVenezuela’s president Nicolas Maduro has made several claims regarding his country’s digital currency this week. He announced the launch of the petro as a national currency on Monday, reportedly claiming that it is already “present in the world’s six topmost international exchange houses.” A new whitepaper has also been published showing that the petro is […]

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Venezuelans to Be Paid at Least Half a Petro a Month

Venezuelans to Be Paid at Least Half a Petro a MonthAnnouncing 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.    […]

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Venezuela to Have Two Units of Account – Petro and Petro-Pegged Bolivar

Venezuela to Have Two Units of Account – Petro and Petro-Pegged BolivarPresident Maduro’s Venezuela is preparing to effectively adopt next week two official units of account – the nation’s crypto, El Petro, and the new petro-pegged bolivar that will replace the inflated national fiat. New salary and pricing mechanisms will be implemented as well, the country’s leftist leader promised.   Also read: Malta Tops Exchange-Based Crypto […]

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Venezuela’s Constituent Assembly Drafts Law to Create Central Bank for Crypto

Venezuela's Constituent Assembly Drafts Law to Create Central Bank for CryptoA member of the Venezuelan National Constituent Assembly has reportedly revealed that the assembly is preparing a reform to the country’s Constitution that includes a central bank for cryptocurrencies. This follows the Venezuelan government’s latest effort to tie the new bolivar currency to the petro. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Central […]

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