Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens

Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible CitizensThe president of Venezuela, Nicolás Maduro wants the nation state-issued cryptocurrency, petro (PTR) to have the same usability properties as a physical currency. On December 13, Maduro explained on national television that the Superintendence of Crypto-Assets and Related Activities (Sunacrip) will be airdropping 0.5 PTR ($30) next week to eligible citizens who register with the […]

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Venezuela’s Central Bank Indicates Plans to Stockpile Bitcoin

Venezuela's Central Bank Indicates Plans to Stockpile BitcoinVarious reports reveal Venezuela’s central bank is allegedly contemplating hoarding a variety of cryptocurrencies like BTC within its internal reserves. The state-operated gas company Petroleos de Venezuela SA (PDVSA) has asked to send BTC and ETH payments to Banco Central de Venezuela’s (BCV) vaults to pay for oil and gas operations. Also read: Maduro’s Petro […]

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Venezuelan Company Paying Employees in Bitcoin Gets Shut Down

Various countries continue to oppose cryptocurrencies. Venezuela has become a notorious example in that regard. In a recent turn of events, the government is now targeting companies who pay employees in Bitcoin. One company has been officially sanctioned for doing so. Things got so bad that numerous employees were laid off in the process.  Venezuela has Many Problems Most people are aware of how Venezuela is struggling financially. The country has gone through recession and hyperinflation in recent years. It seems things are not improving either, as the situation only grows direr. Government officials are now officially investigating companies paying

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