Venezuela: Maduro Administration Targets Bitcoin Remittance

The Venezuela government is reportedly making a move towards collecting fees on Bitcoin remittance payments in the country. This step comes as the cash-strapped Maduro administration continues to seek ways to finance itself in the wake of mounting economic restrictions. Government Eyes Share of Booming Bitcoin Market Earlier in March 2019, the Maduro regime launched […]

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Bitcoin Is More than a Speculative Asset to People in Venezuela

Most Bitcoin HODLers may be wondering when lambo and when moon, but in parts of Latin America, and particularly Venezuela, Bitcoin is saving people’s lives. Bitcoin Is Saving People’s Lives in Venezuela Bitcoin went on tearing breakout on Sunday trading at over $4,200–its highest in 2019. But for any Latin Americans and Venezuelans, in particular, […]

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Venezuela Finds Out the Hard Way That Only Bitcoin is Unconfiscatable

The ongoing political turmoil in Venezuela continues to intrigue Bitcoin figures, following the Bank of England blocking access to the country’s gold reserves in favor of US-backed interim president Juan Guaidó.  Keiser Champions ‘Unconfiscatable’ Bitcoin Venezuela, whose citizens have begun turning to Bitcoin en masse in the face of million-percent inflation, capital, and migration controls, appears […]

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Venezuela: First Bitcoin ATM Opens ‘In 2 Weeks’ Amid Localbitcoins Shutdown Reports

Venezuela, the country seeing new Bitcoin trade volume records on an almost weekly basis, is to get its first ever Bitcoin ATM. Cryptobuyer: ATM Already In Caracas In an interview with local radio and news media network Union Radio, Jorge Farias, CEO of Panama-based Cryptobuyer, said the machine had already arrived in the country’s capital […]

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Venezuela Traded More Bitcoin Than Ever Before In October

Venezuela set a new Bitcoin trading record last week as the country embraces cryptocurrency more than ever. Venezuela Trades 1075 BTC in 7 Days According to data from monitoring resource Coin Dance, despite continued volatility in the country’s dubious redenominated currency the Sovereign Bolivar, trade volumes for the seven days ending November 3 still beat […]

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Venezuela Bitcoin Trading Hits New Record As Maduro Confirms Petro Launch

Venezuela posted its largest-ever Bitcoin trading volumes last week, data compiled October 6 confirms, as the country announced several new economic shake-ups.  7 Days, $7 Million Statistics covering P2P trading platform Localbitcoins show that Venezuelans converted a total of 1073 BTC ($7.1 million) in the week ending Saturday — the most since records began in […]

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Venezuela Finally Launches Controversial State-issued Petro Cryptocurrency

Venezuela’s President Nicolas Maduro recently announced the official launch of the Petro cryptocurrency. In a follow-up development, the government says payment for travel passports will now be made in Petro.  Petro Public Sale Starts November 2018 According to RT News, the Petro public sale commences on November 5, 2018, more than eight months after its […]

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Bitcoin Sees Biggest Trade Volume in Venezuela as Dash Branded ‘Snake Oil’

Bitcoin trading volumes in stricken Venezuela spiked again last week as one local commentator called claims Dash is making inroads in the country “snake oil.” GóMez: ‘No One Uses Dash’ for Payments Figures from P2P trading platform Localbitcoins gathered by monitoring site Coin Dance show a total of 898 BTC and 877 BTC changed hands […]

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Venezuela Decrees Petro ‘Cryptocurrency’ as Legal Tender

Adam James · April 14, 2018 · 5:00 pm All transactions involving government institutions in Venezuela must now accept Petro — the first ever state-issued cryptocurrency — as legal tender, according to an official proclamation in the country’s Official Gazette on April 9. From that date, every such institution has 120 days to comply. All […]

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