Business 16 January 2019

Maduro proves he has no concept of economics

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.

Business 11 January 2019

Venezuela turns to WTO for help over US sanctions against Petro

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.

Business 4 January 2019

Value of Venezuela’s Petro still as clear as mud

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.

Business 14 December 2018

Venezuela starts paying monthly pensions in Petro: report

Venezuelan citizens are reportedly not too happy with the government’s decision to convert their monthly pensions into Petro.

Business 13 November 2018

Venezuela pushes for Petro as unit of measurement for oil

Despite not having a stable economy upon which to build its national cryptocurrency, it is working diligently to have Petro seen as a viable cryptocurrency – although most indications are that it will never truly get off the ground.

Business 1 November 2018

Venezuela’s Petro goes on sale

The Venezuelan Petro has officially launched this week, after being made available for fiat and crypto purchases for the first time.​

Business 19 October 2018

Venezuela green lights 6 crypto exchanges to sell state-backed Petro

Six cryptocurrency exchanges have been approved by the government of Venezuela to start selling the national cryptocurrency, Petro, ahead of its official launch on November 5, according to local media.

Business 8 October 2018

Passport fees in Venezuela must be paid in Petro, gov’t says

Starting this week, residents in Venezuela can only use Petro—the state-backed cryptocurrency—to pay for their passport fees.

Business 3 October 2018

Venezuela to start selling state-backed Petro in November

President Nicolas Maduro announced that Venezuela will officially launch the state-backed Petro in November, after the Parliament passed a decree on the nation’s official oil-backed crypto coin.

Business 31 August 2018

Traders, citizens have yet to see Venezuela’s Petro crypto

Although Venezuelan President Nicolas Maduro has demanded for the national Petro cryptocurrency to be accepted by the country’s banks, no one seems to know where or how they can get ahold of it.

Business 29 August 2018

Venezuela’s Nicolas Maduro insists banks must accept Petro coin

Venezuelan President Nicolas Maduro has reportedly ordered the country’s banks to accept the state-backed Petro cryptocurrency as a unit of account.

Business 16 August 2018

Venezuela announces 2 currency units—Petro and Sovereign Bolivar

Effective on August 20, Venezuela will have two official units of account: the state-backed Petro token and the new Petro-pegged sovereign bolivar, President Nicolas Maduro announced during a televised address.