Tag: Petro

OTC Groups and State-Sanctioned Exchanges Start Trading Venezuela’s Petro

OTC Groups and State-Sanctioned Exchanges Start Trading Venezuela’s Petro Last February, news.Bitcoin.com first reported on the Venezuelan cryptocurrency the petro (PTR) launched by President Nicolas Maduro. Initially, many media reports assumed the digital currency might be phony or nonexistent. However, recent data from a few exchanges and from Venezuelans trading […]

US Sanctions Moscow’s Evrofinance Bank Over Involvement With Petro

US Sanctions Moscow’s Evrofinance Bank Over Involvement With Petro The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on Moscow-based Evrofinance Mosnarbank. The Russian bank was allegedly involved in Venezuela’s attempts to bypass financial sanctions using the petro. Also Read: In the Daily: Exchange […]

Maduro’s Petro Becomes More Accessible, but Scrutinized by Venezuelans

Maduro’s Petro Becomes More Accessible, but Scrutinized by Venezuelans For a while now people were skeptical about the Petro network and questioned whether or not it even existed. Many Venezuelan citizens explained over the last few months that they hadn’t seen the new asset being used in the wild. However, […]

Venezuela Files Complaint With WTO Regarding US Sanctions Targeting Petro

Venezuela Files Complaint With WTO Regarding US Sanctions Targeting Petro On Jan. 8, the World Trade Organization (WTO) published a dispute settlement request that was filed by the Bolivarian Republic of Venezuela with regards to executive orders and sanctions maintained by the United States that target Venezuela and the nation’s […]

Maduro’s Promotion of the Petro Yet to Yield Results

Maduro’s Promotion of the Petro Yet to Yield Results Venezuelan President Nicolas Maduro has been tirelessly promoting the petro, ever since his administration announced the creation of what is now considered the first state-issued cryptocurrency. Although no one is really sure whether the coin actually works, Venezuelans have already seen […]

Venezuela Approves Law Granting Legal Effect to the Petro

Venezuela Approves Law Granting Legal Effect to the Petro A government plan to counter economic sanctions is coming into force in Venezuela after parliament passed a law on crypto asset regulation. The law, originally proposed by the country’s leader Nicolás Maduro, gives legal effect to the petro, Venezuela’s multi-asset-backed digital […]

Venezuela: Petro Can Be Converted Into Any Cryptocurrency If Bought This Year

Venezuela: Petro Can Be Converted Into Any Cryptocurrency If Bought This Year The Venezuelan government has announced that its national digital currency, the petro, can be exchanged into any cryptocurrency if purchased this year. However, the wallet for the petro is still not available and petro buyers receive certificates of […]

Venezuela Begins Public Sale of National Cryptocurrency Petro

Venezuela Begins Public Sale of National Cryptocurrency Petro The Venezuelan government has opened up an exchange desk for the country’s national cryptocurrency at the headquarters of the Superintendency of Cryptoassets. According to the government, investors can now purchase the petro with a number of fiat currencies and cryptocurrencies. Delegates from […]

Nicolas Maduro Urges His Venezuelan Residents to Invest in the Petro Coin and Gold

Nicolas Maduro Urges His Venezuelan Residents to Invest in the Petro Coin and Gold Nicolas Maduro, Venezuela’s president, called on workers in his country to save money in gold and his cryptocurrency ‘The Petro’ during a salary shake-up Thursday. According to the local news source Noticiero Digital, in the next […]