Venezuelan WTO Request Accuses US of ‘Discriminatory Measures’ Against Petro Coin

Venezuela has taken issue with United States sanctions, including those levied against transactions in the country’s national digital currency, the Petro (PTR), according to a World Trade Organization (WTO) consultation request, published Jan. 8. The request, dubbed “United States — Measures relating to trade in goods and services,” was originally […]

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Venezuela Continues to Drive the Petro Despite Ongoing Controversy

Reports coming out for Venezuela suggest that the government is now forcibly converting pensions from fiat to Petro, without the consent of their citizens. The Caracas Chronicles, which reports on Venezuelan issues in the English language, stated that On December 7, they [pensioners] got two messages and it seemed like […]

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Petro price booms as Venezuelan President announces new peg at 9,000 bolivares

Last week, Nicolas Pedro, the President of Venezuela reportedly announced that the price of the country’s very own cryptocurrency, Petro has more than doubled, currently valuing at about 9,000 from an earlier peg of $3,600 sovereign bolivar. The Venezuelan leader established the relation of Petro with the national currency of his land earlier […]

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Venezuela Artificially Inflates Petro 150 Percent As Bitcoin Sets New Record

Venezuela saw yet another new record for Bitcoin use December 1 after another week of economic shake-ups made the cryptocurrency more appealing than ever. 1 Week, 1300 Bitcoins Data from Coin Dance confirms that in the seven days ending Saturday, Venezuelans transacted 1284 BTC ($5.1 million) via P2P trading platform […]

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Venezuela to Force Citizens to Use Cryptocurrency Petro to Buy Passports

The Vice-President of Venezuela, Delcy Rodriguez, announced last Friday that passport issuance fees can only be paid in the government-created cryptocurrency Petro as of November 1, 2018. Furthermore, the cost has increased to 7,200 ($115.77) bolivars to obtain a passport this Monday. In November, this will translate to two petros […]

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Petro is the only way Venezuelans can buy passports amid economic, humanitarian crisis

Venezuelans have been confronted with yet another problem. Individuals have been facing hardships to get access to the Petro cryptocurrency in order to pay for their passports, according to reports by Bloomberg. The Vice President of Venezuela, Delcy Rodriguez stated that the new passports would cost two Petro [7,200 Bolivars] […]

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Venezuela Set to Officially Release its Oil-backed Petro Next Week

The Petro, Venezuela’s controversial cryptocurrency is finally ready for official release to the global cryptocurrency market, the Venezuelan government said. The government is hoping that the cryptocurrency gains popularity as it is part of efforts to rescue the country’s financial system which has been swallowed up by inflation. Sadly, even […]

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Dash CEO: Venezuela Has Become Our Number Two Market Amid the Country's Hyperinflation

Crypto asset Dash is witnessing a surge of interest from residents in Venezuela as people turn to cryptocurrencies as a way of storing value amid the country’s hyperinflation. Venezuela is Dash’s Number Two Market Venezuela’s monetary system is continuing its turbulent ride. With inflation projected to reach as much as 1,000,000 […]

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