After years of experimenting with the controversial Petro digital currency, Venezuela is now set to launch the digital bolivar, the country’s version of a central bank digital currency.
President Nicolas Maduro recently told Venezuelans that his government is working on a digital bolivar, promising a big surprise announcement soon.
The National Tax Harmonization Agreement will implement an information exchange and monitoring system for companies that will allow them to pay taxes in Petro.
The government has started requiring all gas stations in Venezuela to sell petrol at a discount in exchange for Petro.
U.S authorities have placed a $5 million bounty on Joselit Ramirez, the head of Venezuela’s digital currency agency.
Merchants in Venezuela are refusing to accept payments in Petro crypto, claiming that exchanging the Petros for bolivars is difficult and leads to huge losses.
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 Maduro has ordered all airlines operating from the capital Caracas to pay for fuel in the petro crypto as he looks to boost its uptake in Venezuela.
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.