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The Battle for the $2 Billion Venezuelan Gold Stash Continues, London Rules in Favor of Opposition Leader Guaido
31.7.2022
Her Majesty’s High Court of Justice in England has determined that the Venezuelan gold stored in the vaults of the Bank of England must be managed by officials of the Central bank of Venezuela designated by opposition leader Juan Guaido. The management of this gold stash, which is comprised...
Venezuelan Minimum Monthly Wage Not Pegged to the Petro, According to Official Gazette Decree
20.3.2022
The new decree that makes official the recently announced Venezuelan minimum monthly wage rise has been revealed in the Official Gazette, with no mention of its supposed peg to the petro, the national cryptocurrency. The law published mentions that the wage will be 130 VES, using the national fiat...
Venezuela Increases Minimum Monthly Wage to Half a Petro
7.3.2022
Nicolas Maduro, president of Venezuela, announced an increase in the minimum wage of workers in the country linked to the petro. In the II Workers’ Congress, Maduro revealed that the new value of the salary would be half a petro, the national cryptocurrency, which is now worth close to $59....
Venezuelans reportedly hit by new Bitcoin tax of up to 20%
7.2.2022
Bitcoin adoption has been on the rise in Venezuela in recent years amid hyperinflation and the national currency crisis
Venezuela Slashes Six Zeroes off Its Currency, Bolivar Keeps Losing Ground Against the Dollar
4.10.2021
The Central Bank Of Venezuela applied the announced redenomination plan for the national fiat currency, the bolivar on October 1. This redenomination implied slashing six zeroes from the currency, to make payments and currency handling easier, according to earlier statements. However, just hours...
Venezuela’s Maduro Wants to Offer Crypto-Based Loans to Agricultural Producers
4.8.2021
Nicolas Maduro, president of Venezuela, stated the country could offer cryptocurrency-based loans to the agricultural sector, in addition to the traditional loans in several fiat currencies. He also stated that Venezuela has worked with petro and other cryptocurrencies for three years, pioneering...
Nicolas Maduro States Venezuela Pioneered Crypto Adoption in South America as Petro Use Flounders
22.6.2021
President Nicolas Maduro stated that Venezuela was a pioneer in cryptocurrency adoption in Latam in an interview with Bloomberg last week. Venezuela is still one of the first cryptocurrency volume movers in South America. However, the petro token, its official cryptocurrency, has failed to pick...
Venezuelan Minimum Wage Reaches $3 as More Venezuelans Take Refuge in Cryptocurrencies
5.5.2021
The president of Venezuela, Nicolas Maduro, approved a minimum wage raise increase last week that took it to three dollars monthly, a very low income for the citizens of the country that are facing a strong economic crisis since 2013. However, the crypto environment has been growing, and...
Venezuelan Programmer Who Created the Petro Token Regrets Participating in the Project — Works on an Alternative Token
29.4.2021
Venezuela’s government-backed cryptocurrency is not having the acceptance its cabinet expected, as the latest reports suggest. The petro’s creator, who now lives in exile, wants to build another crypto that gets the adoption its original creation did not in the nation. Jiménez...
Venezuelan President Maduro Promises 2021 Will Be the Year to Boost Usage of Petro
16.1.2021
The Venezuelan president, Nicolás Maduro, has claimed that 2021 will be the year of the state-backed petro (PTR) token. He also promised to boost a “100% national digital economy” agenda through a “complete digitalization process.” 77% of Trade Transactions in Venezuela...
Venezuela’s Asonacrip: Bitcoin Bull Run Could Help Boost Usability of Cryptos Such as Petro
22.12.2020
The president of the National Association of Cryptocurrencies of Venezuela (Asonacrip) praised the recent bull run seen in bitcoin’s prices across the board, which “favors the usability of a very novel crypto asset,” such as the petro (PTR). Petro Is Gathering Strength Due to...
Millions of Venezuelans Voted via Blockchain in an Unofficial Anti-Maduro Referendum
17.12.2020
An unofficial referendum pursued by the Venezuelan opposition leader Juan Guaidó took place over the weekend in Venezuela powered by a blockchain platform, while at the same time, parliamentary elections called by the president Nicolás Maduro also had its scenario in a widely criticized...
Venezuelan Government Signs Agreement to Establish Guidelines for Granting Licenses to Crypto Miners
11.12.2020
The National Superintendency of Crypto Assets (Sunacrip) and the National Electricity Corporation of Venezuela (Corpoelec) signed an agreement to establish guidelines to “improve the development” of bitcoin and other crypto mining activities across the country. Venezuelan Government...
Venezuelan army starts mining Bitcoin to make ends meet
30.11.2020
The Venezuelan army turns to crypto mining as the country's economy collapses
Venezuelan Army Starts Mining Bitcoin for ‘Unblockable Income’
30.11.2020
The Venezuelan Army has inaugurated a cryptocurrency mining center with bitcoin mining equipment aimed at generating “unblockable income,” as the country attempts to bypass U.S. sanctions. The crypto mining center has the support of the country’s crypto regulator, Sunacrip....
UK Court Overturns Ruling on $1 Billion Venezuelan Gold at Bank of England
6.10.2020
The UK Court of Appeal has overturned an earlier court ruling which denied Nicolas Maduro access to Venezuela’s gold worth about $1 billion kept at the Bank of England. The court did not recognize Maduro as the legitimate leader of Venezuela. Court Rules in Favor of Central Bank of Venezuela...
Venezuela’s State-Run ‘Defi’ Crypto Exchange Goes Live After Maduro’s Anti-Blockade Speech
3.10.2020
Decentralized finance (defi) is allegedly coming to Venezuela after a recent decree from Venezuelan President, Nicolás Maduro and the United Socialist Party of Venezuela. The government recently introduced a defi platform called BDVE that purportedly provides Venezuelan citizens with the means...
Venezuela Rolls Out Ethereum-Based Stock Exchange to Help Skirt US Sanctions
2.10.2020
The blockchain-based exchange comes as part of new measures announced by President Nicolas Maduro in a big to sidestep tough U.S. sanctions
Venezuela To Start Using Cryptocurrency in Global Trade in Efforts To Fend off U.S. Sanctions
1.10.2020
Venezuela president Nicolas Maduro says the country is to start using cryptocurrency in both domestic and global trade, as part of efforts to neutralize crippling U.S. economic sanctions. Speaking in the country’s parliament on Sept. 29, Maduro revealed that the move will “give...
Maduro claims crypto will play role in fighting sanctions against Venezuela
30.9.2020
Crypto garnered another mention in one of Maduro's bombastic speeches