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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Restaurant Chain Church’s Chicken Now Accepts Cryptocurrency Dash In 10 Venezuelan Locations

International fast-food franchise Church’s Chicken is now accepting payments in cryptocurrency Dash at its ten Venezuelan locations. Church’s Chicken is an American chain of fast food restaurants specializing in fried chicken. The company is the fourth largest chicken restaurant chain behind KFC, Popeyes, and Chick-fil-A, with more than 1,700 locations […]

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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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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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