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A new Venezuelan fiat currency, ‘anchored’ to the nation’s crypto, the Petro, is expected to start circulating in the second half of August. The news was announced by president Maduro himself, along with other measures intended to improve the economic situation in the country. The ‘Sovereign Bolivar’ will have less zeros than the inflated ‘Strong … Read more
The government of Venezuela has started monitoring the bank accounts of its citizens for cryptocurrency-related transactions. Accounts found to contain crypto transactions at prices which the government considers to be “undermining the national currency” will be “severely punished,” Vice President Tareck El Aissami said. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Next Phase … Read more
The government of India has formally rejected Venezuela’s state-backed cryptocurrency, the petro, despite an attempt to entice India with a 30% discount. Dependent on the Latin American country’s oil, a steady, uninterrupted supply is key to growing one of the world’s most populous nations. Venezuela is in the midst of dramatically bad economic fortune compounded … Read more
The Satoshi Revolution: A Revolution of Rising Expectations Section 3: Decentralization Chapter 8, Part 3 The Centralization of Crypto and the Banality of Evil First we must realize that all actions are performed by individuals… If we scrutinize the meaning of the various actions performed by individuals we must necessarily learn everything about the actions … Read more
A luxury hotel, offering breathtaking views of Caracas and the Caribbean coast, will be accepting only payments in Petro, Venezuela’s national cryptocurrency. According to President Maduro, the renovated Humboldt hotel is going to be the first seven-star property in his crisis-stricken Bolivarian Republic. Also read: Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining Farms … Read more
State news agency Telesur reports Venezuela president Nicolás Maduro has announced formation of a youth bank funded by the country’s recently launched cryptocurrency, the Petro. Mr. Maduro also took the opportunity to urge countrymen to continue mining its state-backed digital money, including creation of mining farms. Also read: Only 1% of Business CIOs are Actually … Read more
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 … Read more
The government of Venezuela has taken action against two cryptocurrency exchange operators in the country. Both of them allow customers to convert between a number of cryptocurrencies and bolivars and send remittances abroad. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Operation Paper Hands The Venezuelan government’s “Operation Paper Hands” began a new phase … Read more
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 … Read more
Bitfinex has announced that it will not list or transact Venezuela’s new “oil-backed cryptocurrency” or any other tokens that the country may issue in the future, citing U.S. sanctions. Meanwhile, the Venezuelan government has reportedly set the minimum investment amount for the petro initial coin offering. Also read: South Korea Clarifies Position After Reports of Possible … Read more
