Tag: Petro

A New Bitcoin World

Venezuelan Programmer Who Created the Petro Token Regrets Participating in the Project — Works on an Alternative Token

Venezuelan Programmer Who Created Petro Regrets on Having Participated in the Project — Works on an Alternative TokenVenezuela’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 Believed the Petro Could Have Given Venezuelans a ‘Measure of Freedom’ Per a […]


April 29, 2021 0

Venezuelan President Maduro Promises 2021 Will Be the Year to Boost Usage of Petro

Venezuelan President Maduro Promises 2021 Will Be the Year to Boost Usage of PetroThe 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 Are Made via Digital Solutions in Bolivar During an annual speech at the National […]


January 16, 2021 0

Venezuela To Start Using Cryptocurrency in Global Trade in Efforts To Fend off U.S. Sanctions

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 new strength to the use of petro and other cryptocurrencies, national and […]

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October 1, 2020 0

Venezuelan Government Accused of Using Bitcoin to Bypass US Sanctions

Venezuelan Government Accused of Using Bitcoin to Bypass US SanctionsNicolás Maduro and the United Socialist Party of Venezuela have been accused of circumventing financial blockades imposed by the U.S. government. According to local reports, Maduro’s regime evades sanctions with cryptocurrency alongside an airline application called Jetman Pay. Allegedly, Jetman Pay collects airline taxes from travelers who purchase tickets from Maiquetía International Airport and the […]

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July 25, 2019 0

Crypto Adoption Strong in Venezuela Despite Political Crisis

Crypto Adoption Remains Strong in Venezuela Amid Political ChaosThe political tension in Venezuela has affected local cryptocurrency adoption. While there are roadblocks, many crypto-advocating projects continue to thrive in the country. News.Bitcoin.com takes a deep look at the current situation in Venezuela, crypto adoption efforts and how the recent political crisis affects them. Also read: Indian Supreme Court Postpones Crypto Case at Government’s […]

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May 9, 2019 0

Maduro’s Petro Becomes More Accessible, but Scrutinized by Venezuelans

Maduro's Petro Becomes More Accessible, but Scrutinized by VenezuelansFor a while now people were skeptical about the Petro network and questioned whether or not it even existed. Many Venezuelan citizens explained over the last few months that they hadn’t seen the new asset being used in the wild. However, recent reports detail that there are a few new methods available for residents who […]

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February 26, 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

Venezuela Files Complaint With WTO Regarding US Sanctions Targeting Petro

On Jan. 8, the World Trade Organization (WTO) published a dispute settlement request that was filed by the Bolivarian Republic of Venezuela with regards to executive orders and sanctions maintained by the United States that target Venezuela and the nation’s cryptocurrency, the petro. The document was filed with the WTO on Dec. 28. Also Read: Malaysia […]

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January 15, 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