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In the midst of Venezuela’s ongoing economic crisis, President Nicolas Maduro has taken yet another controversial step to promote the nation’s very own blockchain-based cryptocurrency, Petro, by offering the Indian government a 30% discount on crude oil prices ‘if’ the Southeast Asian nation agrees to make the exchange via Petro tokens.
During the week, news broke of India’s changing stance on cryptocurrency with headlines from several news sources hinting at a potential Indian crypto ban, sending markets into a panicked whirlwind and causing a Bitcoin price drop to $6,600.
In a move to promote crypto education within the world’s 7th largest economy, the Dalit Indian Chamber of Commerce and Industry (DICCI) is launching a Bitcoin mining training program which will span across 30 cities.
The Indian government recently declared Bitcoin and other cryptocurrencies illegal tender within its borders which has since seen crypto exchanges all over the country scrambling to create a plan of action.