Main page News, Venezuela, Petro

Venezuela’s state-owned cryptocurrency can now be purchased with other cryptocurrencies, as well as yuan, euro, or U.S. dollars, the Venezuelan Economic Department announced on Twitter.

A special chart is attached to the message. According to the data, the national cryptocurrency can now be purchased directly from the country's treasury through the official website of the coin or via six crypto-exchangers (Bancar, Afx Trade, Cave Blockchain, Amberes Coin, Cryptia, and Criptolago). Previously, these sites have received permission from the Venezuelan government to trade Petro.

The state cryptocurrency can also be purchased using fiat by legal entities and individuals who have registered and passed the verification process on the official website of the coin.

Venezuela’s Inflation to Hit 1.37 Million Percent in 2018

Despite the fact that Petro is a very controversial cryptocurrency, Venezuelan President Nicolas Maduro is actively promoting it. Earlier, he announced that public trading in oil-backed virtual currency would start on November 5th. The government also said that from November 1, Venezuelans will pay for issuing foreign passports with the national cryptocurrency.

Venezuelans are Obliged to Buy Passports with Petro

The active promotion has not been stalled by the new sanctions from the American government, either. Earlier, the U.S. senators proposed a new bill aimed at tightening sanctions against Petro. The bill provides for an extension of the March order by the U.S. President. Donald Trump then banned the U.S. residents from providing software to the Venezuelan government that would help to promote Petro.

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