Venezuela’s Superintendence of Cryptocurrencies and Related Activities has opened up the Registry of Cryptocurrency Miners for anyone with national identification to sign up to mine the country’s cryptocurrency, the Petro, Bitcoin.com reported.
The country’s president Nicolás Maduro says 860,811 young people have already registered to create the Petro mining farms. Registration will continue through January 21.
“We are going to call them a special cryptocurrency team…They will set up cryptocurrency mining farms in all states and municipalities of the country,” Maduro was quoted as saying by El Universal.
According to Minister of Communication and Information, Jorge Rodriguez, the registered may have access to other digital currencies that are authorized by the government.
“Natural or legal persons registered in the Registry will be able to acquire other types of cryptocurrencies for free use and demand in Venezuela, as long as they are authorized,” he said.
It was recently announced that the proposed Venezuelan digital currency will be backed by Ayacucho Block of the Orinoco Belt - an oil field that reserves more than 5 billion barrels of oil.