Business 21 May 2019

Venezuela and Russia discuss Petro based trade

Desperate to fix their trade situation, Venezuela might be close to convincing Russia to turn to Petro based trade.

Business 8 March 2019

Venezuela launches a crypto remittance service

Venezuela is launching a new remittance service for cryptocurrencies, in an effort to save their failing economy.

Business 12 February 2019

Venezuela’s Petro just got even more ridiculous

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. 

Business 5 February 2019

New regulations for Venezuela crypto scene amid civil strife

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.

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.