Tag: Nicolas Maduro

A New Bitcoin World

Venezuelan Explains How Bitcoin Saves His Family

Venezuelan Explains How Bitcoin Saves His FamilyAs the situation in Venezuela intensifies, a local bitcoin user details how he and his family use the cryptocurrency to survive the country’s ongoing crisis. Keeping all of his money in bitcoin, he only exchanges small amounts into the hyperinflating bolivar when necessary. Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval […]

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February 25, 2019 0

Venezuela’s Volumes Hit Record Highs as Crypto Regulations Commence

Venezuela’s BTC Trading Volumes Hit Record Highs as Crypto Regulations CommenceAs Venezuela begins regulating cryptocurrency, BTC trading volumes in the country hit record highs on several exchanges. Amid fast-growing crypto adoption, peer-to-peer trading platforms such as Localbitcoins and Paxful have reported significant increases in the number of BTC traded in Venezuela. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Record BTC […]

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February 13, 2019 0

Bank’s Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for Bitcoin

Bank's Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for BitcoinVenezuela’s economic crisis is impossible to ignore. President Nicolás Maduro’s attempt to withdraw $1.2 billion of the country’s own gold from the Bank of England (BoE) has been rejected. The notion of a sovereign state being denied access to its own wealth is a concept that’s hard for bitcoiners to countenance. One thing is certain: the case […]

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January 26, 2019 0

Venezuelan President Raises Petro’s Value Again in Bid to Create ‘New System’

Venezuela President Raises Petro's Value Again in Move to Create 'New System'For the second time in a little over a month, Venezuela’s president Nicolas Maduro has hiked up the value of the national cryptocurrency, the petro, this time to 36,000 sovereign bolivars. The move has again been met with criticism.  Also read: Russia Not Ready for the Petro, Proposes Plan to Aid Venezuela Without It ‘A New Monetary System’ […]

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January 16, 2019 0

Russia Not Ready for the Petro, Proposes Plan to Aid Venezuela Without It

Acknowledging Venezuela’s efforts to deal with inflation and sanctions by creating a state-issued cryptocurrency, Russian officials have nevertheless declined a proposal to use the oil-backed coin in bilateral trade. According to Russian media, Moscow has recently offered Caracas a set of measures aimed at mending the country’s economy but the petro is not among the […]

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January 13, 2019 0

Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies

Venezuela Decrees Crypto Operators to Pay Taxes in CryptocurrenciesThe Venezuelan government has published a decree requiring taxpayers with crypto operations in the country to pay their taxes in cryptocurrencies. Similarly, operators of foreign currencies must pay their taxes in those currencies. The decree states that the change is necessary for the “strengthening of the current fiscal regime.” Also read: Indian Supreme Court Moves Crypto Hearing, […]

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January 9, 2019 0

Venezuelans Remain Skeptical After President Maduro Raises Petro’s Value

Venezuela Orders Government Services to Accept Any CryptocurrencyVenezuelan President Nicolas Maduro’s move to increase the price of the petro, the country’s oil-backed cryptocurrency, has sparked intense debate. Experts and tech-savvy Venezuelans alike are less than enthusiastic about the decision. Also read: Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double Venezuelans Unimpressed by Proclamation Venezuelans blasted Maduro and his new cryptocurrency after […]

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December 6, 2018 0

Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double

Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than DoubleVenezuela’s President Nicolas Maduro has announced that the price of the petro, his country’s national “cryptocurrency,” has been increased from 3,600 sovereign bolivars to 9,000. While the wallet for the petro is still unavailable, the Venezuelan government continues to sell the digital currency and issue certificates of purchase to buyers. Also read: Indian Supreme Court Moves […]

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December 3, 2018 0

Venezuela Approves Law Granting Legal Effect to the Petro

Venezuela Approves Law Giving Legal Effect to the PetroA government plan to counter economic sanctions is coming into force in Venezuela after parliament passed a law on crypto asset regulation. The law, originally proposed by the country’s leader Nicolás Maduro, gives legal effect to the petro, Venezuela’s multi-asset-backed digital currency. Also read: Nigeria’s Opposition Leader Promises Cryptocurrency Policy If Elected President ‘Breaking Financial and […]

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November 24, 2018 0