Venezuela

The thousands of people trying to get out of Venezuela will soon have another hurdle in their path: the inability to buy a passport without enough of the country’s new cryptocurrency Petro. Thousands Trying to Leave The economic crisis...

On Monday, Oct. 1, Venezuelan President Nicolas Maduro announced the official launch of the country’s official cryptocurrency, called Petro, alongside the release of the Spanish-language white paper for the coin. From #05Nov, Venezuelans will buy Petros for Bolivar Soberano....

The term “government-issued” cryptocurrency is paradoxical. The core tenets of cryptocurrencies — decentralized ledgers and trustless cryptographic payment clearance — are antithetical to government control over value transfer. Officially sanctioned government issued cryptocurrencies are increasing in number, however. Sweden,...

The cryptocurrency situation in Venezuela received a push on Tuesday, Aug. 14, after President Nicolás Maduro announced that the state-issued Petro token is legally a unit-of-account in the crisis-stricken country, ABC International reports. Maduro’s Giant Cryptocurrency Experiment Launched in February...

Initially revealed on August 2, 2018, several Venezuelan Coinbase users abruptly lost the ability to withdraw or send cryptocurrency, prompting speculation that the exchange may have its hands tied by US-Venezuela sanctions. Purportedly, Venezuela-based Coinbase users are still able...

The advice from Wences Casares to those wanting to be a millionaire is to take 1% of what you own, buy Bitcoin, then wait 5-10 years. That way, according to the CEO of Bitcoin storage company Xapo, “You either lose...

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’...

As per Venezuelan newspaper, the Official Gazette, all government institutions are now required to accept Petro as legal tender. The proclamation was made official on April 9 by President Nicolás Maduro and gives all government bodies a maximum of...

Donald Trump is the first sitting United States President to place a ban on a cryptocurrency. The White House announced on Monday that Trump issued an executive order banning all transactions of any digital currency issued by, or related...

On the 3rd of December 2017, controversial Venezuelan President Nicolás Maduro announced a surprising new initiative aimed at addressing Venezuela’s economic turmoil — the development of a state-backed cryptocurrency called the “Petro.” The announcement sparked international debate on the...