Category: Venezuela

Auto Added by WPeMatico

Maduro Asks Venezuela’s Banks to Mine and Use Cryptocurrency – Unions Outraged

Venezuela’s president Nicolas Maduro has authorized all savings banks in the country to mine and use the recently launched national cryptocurrency, the petro. Union leaders are outraged by the suggestion, calling the petro a scam, accusing Maduro of...

Venezuela Orders Government Services to Accept Any Cryptocurrency

Venezuela’s president Nicolas Maduro has ordered the country’s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation’s own petro. In addition, he has announced the launch of another cryptocurrency,...

Venezuela Decides One Coin’s Not Enough, Readies New ‘Petro Gold’ Token

Things are only getting weirder in Venezuela, as President Nicolas Maduro decides that one state-issued cryptocurrency farce isn’t enough. Now, the socialist country with a crumbling economy is ready to launch second Petro token — called Petro Gold....

Iran Changes Mind, Decides it Doesn’t Actually Like Bitcoin After All

In October 2017, the Iranian government all but decided to implement Bitcoin as a means to completely bypass sanctions, while also allowing citizens to conduct international trades otherwise not possible. Now, however, the Islamic Republic on the Persian...

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Has Raised $735 Million

Venezuela has announced that the pre-sale of its oil-backed cryptocurrency, the petro, has attracted $735 million on the first day. The government has also published a buyer’s manual and confirmed that buyers can use “hard currencies and cryptocurrencies, but...