Petro News

In 2017, president of Venezuela, Nicolas Maduro, announced the development and issuing of an official Venezuelan cryptocoin — El Petro cryptocurrency — for Venezuelan citizens. According to the president, the Venezuelan digital currency Petro’s meaning for the country is a way to become more financially independent and to resolve all problems in the economy of the republic. El Petro cryptocurrency’s value is supposed to be dependent on Venezuelan reserves of oil, gold and diamonds. However, the technical aspects of issuing such virtual currency remain unknown. Most likely, the concept of the coin is still just in written form without any real implementation. In terms of Bitcoin and other altcoins, they have already become very popular in Venezuela, as its citizens use it to protect themselves against hyperinflation.
Analysis
Last week, the president of Venezuela appeared on national television holding a Trezor wallet. Was it just a stunt?
Venezuela President Maduro Is Not Pro-Crypto, He Just Likes Petro
Stephen O'Neal
2019-11-13T15:00:00+00:00
4127
News
The Bank of Venezuela has reportedly added a prototype wallet to customers’ online banking accounts.
Venezuela: New Bitcoin Trading Record as Biggest Bank Embraces Petro
William Suberg
2019-09-13T13:26:19+01:00
6971
Local News
From Cointelegraph en Español: Paypal changing policies in Mexico, new crypto payments in Spain and more government announcements about the Petro from Venezuela...
Crypto News From Spanish-Speaking World: Aug. 24-31 in Review
Joeri Cant
2019-08-31T20:48:00+01:00
2908
News
In a major escalation against socialist president Nicolás Maduro, Donald Trump’s administration has frozen all Venezuelan government assets.
US Freezes Maduro Gov’t Assets as P2P Bitcoin Volume Soars in Venezuela
Marie Huillet
2019-08-06T12:03:00+01:00
7674
News
The Maduro regime is collecting aviation taxes, and soon refuelling bills, using Bitcoin transfers, say local media.
Venezuelan Gov’t Reportedly Dodges US Sanctions With Crypto in Airports
William Suberg
2019-07-25T16:20:00+01:00
5581
In depth
Venezuela is leading the crypto peer-to-peer BTC trade market, despite government efforts to drive adoption of its oil-backed cryptocurrency, Petro.
Venezuelan Petro Against US Sanctions: History and Use of the Crypto
Samuel Haig
2019-07-17T13:08:00+01:00
6308
News
Venezuela’s President Nicolas Maduro ordered the country’s leading bank, Banco de Venezuela, to accept the nation’s cryptocurrency El Petro at all its branches.
President Maduro Orders Bank of Venezuela to Accept Petro Crypto
Adrian Zmudzinski
2019-07-04T18:24:00+01:00
14029
News
Venezuela’s representative to the UN reportedly revealed that the country is working with Russia to use oil-backed coin Petro.
Venezuela and Russia Discuss Mutual Trades in Petro and Russian Ruble: Report
Helen Partz
2019-05-17T19:16:00+01:00
6569

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