Venezuela News

Venezuela, officially the Bolivarian Republic of Venezuela, is a federal state in the north part of South America. The country has built its economy on oil, as Venezuela owns the largest oil reserves in the world. In terms of digital currencies, Venezuela was the first country to have issued its own cryptocoin. Its value directly depends on the national oil reserves. The cryptocoin, created in order to improve the country’s weak economy, was issued contrary to the parliament’s decision. The national Venezuelan cryptocurrency Petro, officially El Petro, has garnered about $735 million during the first day of the ICO launch. Despite the apparent success, the future of the Venezuelan cryptocurrency is unpredictable, as some countries, such as the USA, have already banned the use of Petro.

Analysis
Here are the events that marked the past year in the Venezuelan crypto space and the opinions of those who experienced them from the inside.
Exploring Venezuela’s crypto ecosystem since the start of the pandemic
Ezio Rojas
2021-04-04T14:07:00+01:00
9899
Altcoin Watch
Global stablecoin adoption and uncontrolled hyperinflation in Venezuela and Argentina have helped push Reserve Rights to a new all-time high.
Reserve Rights (RSR) gains 300% as stablecoins gain regulatory approval
Jordan Finneseth
2021-03-09T20:04:36+00:00
34666
News
BitPay apparently screened merchants but not customers.
Another crypto firm hit with fines for violating U.S. sanctions
Kollen Post
2021-02-18T16:09:01+00:00
16232
News
Venezuela President Nicolás Maduro claims the country will “use all the cryptocurrencies in the world” to bypass U.S. sanctions.
Venezuela ramps up Bitcoin payments for imports from Iran and Turkey
Joshua Mapperson
2020-12-10T03:42:32+00:00
8740
News
The Venezuelan army turns to crypto mining as the country's economy collapses.
Venezuelan army starts mining Bitcoin to make ends meet
Ezio Rojas
2020-11-30T19:55:54+00:00
12974
News
Fast food chains like Burger King and Church's Chicken already accept crypto payments in the South American nation.
Pizza Hut to accept Bitcoin for pies in Venezuela
Turner Wright
2020-11-29T20:18:44+00:00
13614
News
The 166th wealthiest person in the world has revealed that he has invested in Bitcoin.
Mexico’s second-richest man invests 10% of his liquid portfolio in Bitcoin
Samuel Haig
2020-11-18T05:47:39+00:00
34128
News
Bitcoin has broken record levels against at least nine world currencies as its U.S. dollar price marches toward $20,000.
Bitcoin has hit all-time highs against numerous world currencies
Benjamin Pirus
2020-11-17T16:37:15+00:00
13586

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