Sunday, July 12, 2020

Venezuela To Go Full Crypto; All Coins To Be Accepted For Payments

In a major and historic declaration, President Nicolas Maduro declared that all crypto-coins (including the Petro) will be accepted for payment and trades with government services and some national companies. He said it today, in a meeting with his party supporters.

He stated: “I have given the command to state enterprises like PDVSA, PEQUIVEN, and the Venezuelan Guyana Company to pay and receive payments in Petro convertible crypto-coin, so suppliers and creditors of these companies must conduct their commercial transactions of purchase-sale in a percentage of their products and supplies in the Petro from today.” He also revealed that tourist related services offered by national lenders will accept any crypto-coin as a form of payment.

Furthermore, the gas stations near the border with Colombia and Brazil will also accept pays in crypto, and the fuel oil sold and airport-related services lent to national and international airlines will be payable with crypto too.

Venezuela is the first country to recognize crypto-coins as a legal coin, and the first one to integrate them into his government goods and services payment portfolio.

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