Venezuelan President Nicolas Maduro has been tirelessly promoting the petro, ever since his administration announced the creation of what is now considered the first state-issued cryptocurrency. Although no one is really sure whether the coin actually works, Venezuelans have already seen their salaries denominated in the national crypto and their pensions converted to petro. Imposing […]
The post Maduro’s Promotion of the Petro Yet to Yield Results appeared first on Bitcoin News.
Powered by WPeMatico
]]>
Venezuela has authorized six cryptocurrency exchanges to start selling its national cryptocurrency, the petro, according to the government’s website. The petro, which recently became a Venezuelan national currency, can now be purchased at the six exchanges, local media report. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Six Websites Authorized to Sell Petro The […]
The post Venezuela Authorizes 6 Exchanges to Start Selling National Cryptocurrency Petro appeared first on Bitcoin News.
Powered by WPeMatico
]]>
The petro has stirred up a lot of debate among the cryptocurrency community, with some people who believe it is a successful example of using the technology to create resource-backed assets and bypassing financial sanctions, while others see it as a scam by a corrupt government that already inflicted economic calamities, such as hyperinflation, against […]
The post Reuters: Venezuela’s Petro Has No Users, No Investors and No Oil to Back It Up appeared first on Bitcoin News.
Powered by WPeMatico
]]>
Announcing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin. […]
The post Venezuelans to Be Paid at Least Half a Petro a Month appeared first on Bitcoin News.
Powered by WPeMatico
]]>
The president of Venezuela, Nicolas Maduro, has announced the end of the pre-sale for the Petro, the country’s “cryptocurrency”. He claims it has raised the equivalent of over 3 billion dollars. Maduro has also certified 16 crypto exchanges he hopes will start listing his country’s new currency. Also read: Yahoo! Japan Confirms Entrance Into the Crypto […]
The post Venezuela Certifies 16 Cryptocurrency Exchanges appeared first on Bitcoin News.
Powered by WPeMatico
]]>
Venezuela’s National Constituent Assembly has approved the decree on the use of cryptocurrencies and the country’s new “oil-backed” currency, after repeatedly declaring the Petro illegal. The new currency began its initial coin offering last month as the Venezuelan president continues to strongly push its use. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 […]
The post Venezuela Approves Decree on the Use of Cryptocurrencies appeared first on Bitcoin News.
Powered by WPeMatico
]]>
Venezuela has chosen a platform on which to auction its “oil-backed cryptocurrency”, the petro. While the country’s National Assembly has repeatedly declared this new currency illegal, the Venezuelan government will proceed with the auction of the petro on the country’s official foreign exchange platform. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies […]
The post Venezuela Picks FX Platform to Auction Petro ‘Oil-Backed Cryptocurrency’ appeared first on Bitcoin News.
Powered by WPeMatico
]]>
The Venezuelan government has made some new claims about the pre-sale of the country’s oil-backed cryptocurrency, the petro. After one week, President Nicolas Maduro said that the petro had raised $3 billion from 171,015 certified purchases, from investors in 127 countries. The majority of the orders were in dollars, followed by bitcoin and ether, according […]
The post Venezuela Claims Petro Cryptocurrency Has Raised $3bn from Investors in 127 Countries appeared first on Bitcoin News.
Powered by WPeMatico
]]>
Poland’s Ministry of Finance has refuted reports that it is interested in the petro, the Venezuelan ”oil-backed” currency. Earlier this month, Venezuela reportedly claimed that a handful of countries have expressed interest in receiving the petro for commerce with Venezuela such as Norway, Denmark, Brazil, Vietnam, Poland, and others. Also read: Indians Look to Buy Bitcoin […]
The post Poland Refutes Reports of Its Interest in Venezuela’s Oil-Backed Cryptocurrency appeared first on Bitcoin News.
Powered by WPeMatico
]]>
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 abusing his power, and declaring the idea unconstitutional. Also read: Indians Look to Buy Bitcoin Overseas as Regulations […]
The post Maduro Asks Venezuela’s Banks to Mine and Use Cryptocurrency – Unions Outraged appeared first on Bitcoin News.
Powered by WPeMatico
]]>