U.S authorities have placed a $5 million bounty on Joselit Ramirez, the head of Venezuela’s digital currency agency.
The U.S. Department of Justice accuses the leader of running a drug-trafficking that relied on digital currencies as payment.
Venezuelans are desperate to rid of the Petro crypto recently airdropped to them by the gov’t and are now selling it on P2P marketplaces for half the price.
President Nicolas Maduro has told retirees, public employees and pensioners that they will be receiving a Christmas bonus.
The Venezuelan president is determined to see Petro used, paying pensioners their Christmas bonuses with the crypto.
President Nicolas Maduro said the state would pay “protectorates and states” the sum of 1 million Petros, twice per month, as a means of encouraging the crypto’s circulation.
Venezuela's central bank is looking into whether or not digital currency could bolster its international reserve figures, which are now approaching the lowest amount seen in 30 years.
Nicolas Maduro has reportedly approved the use of an app for collecting airport taxes which converts funds into BTC through several partners.
Venezula has revealed new requirements for exchange platforms and miners. Those businesses will now have to register with a superintend body of crypto-related activities, named Sunacrip, and adhere to new regulations.
Venezuelan President Nicolas Maduro's Petro cryptocurrency has no clear value tied to it, and hasn't helped the people of the country in their dire economic situation.