Venezuela’s crypto is now ready to be used for remittances, but will that help anyone?
Nicolas Maduro has reportedly approved the use of an app for collecting airport taxes which converts funds into BTC through several partners.
Desperate to fix their trade situation, Venezuela might be close to convincing Russia to turn to Petro based trade.
The U.S. Treasury Department has implemented blocks against Evrofinance Mosnarbank after it was allegedly shown to support Venezuela’s Petro cryptocurrency and was the “primary international financial institution willing to finance” the coin.
Although the Petro still has no clear definition, users of the crypto are going to have to dig deeper into their digital wallets, as the country is imposing a significant tax on all transactions.
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.
Venezuela, led by a former bus driver who took over power following the exit of the country’s former dictator, has not done much to show that the man is capable of handling much more than a steering wheel.
The government of Venezuela has filed a complaint with the World Trade Organization (WTO) over U.S. sanctions, including those against the state-backed Petro.
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.
Venezuelan citizens are reportedly not too happy with the government’s decision to convert their monthly pensions into Petro.