Crypto payments are made in Venezuela, now available through the central bank?

Again, cryptonieuws from china. Last week, it was announced that the country is considering bitcoin and ethereum to add to the national reserves. This time it was the news of the payments made by cryptovaluta.

Bitcoin and crypto in Venezuela

President Nicolas Maduro said that the government, as a form of payment for the cryptovaluta are going to introduce it to you. The prescribed time is ‘soon’.
With this method, it should be possible to make free domestic and international payments, ” to do so. Everyone in the country should be in a trades position.
This news has made Maduro announced at a press conference.

“The minister of Finance and the central bank of Venezuela and new instruments are being developed that will soon be on the market. Anyone can use it in transactions for national as well as international money transfers through the bank account of the central bank.”

This sounds like a big step forward for the nation. Generally, the authorities are conservative and cautious about cryptomunten.
In Venezuela, however, this is different. They also have a cryptocurrency used by the state, which was released with the Petrol. This coin is backed by the oil reserves of the country.
Other side of the coin: all of the payments made by the cryptovaluta in this way, the central government’s control, which is a form of censorship.

Read also: the President of Venezuela, gives the bank a command issue cryptomunt Petrol

Petro usa. the Us dollar

Maduro is attempting to get other countries to ensure that this Petrol is also going to accept, as an alternative to the U.s. dollar.
The opposition of Venezuela is so happy with this news. Juan Guaido to see it as a “desperate step to a regime. According to more than fifty countries as he is the legitimate leader of the country.
He added that “the resort to this kind of escape possibilities, and highlights the economic crisis that the regime is going through.”
In the United States of america shall exercise sanctions on the South American country, making cross-border payments thrown into chaos.
This is, indirectly, one of the reasons why the central bank of the country, bitcoin might want to accept BTC are going to store it in cold storage.
Source: International Monetary Fund

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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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