News by results: Venezuela

Blockstream CEO Adam Back Sees Bitcoin At $50,000 In No Time

Bitcoin has subsequently surpassed the $10,000 price level which many believe should increase the coin’s chance of a possible rally.

Venezuelan Crypto Regulator Urges Public to Use Petro For Remittances

The superintendente of “Nacional de Criptoactivos (SUNACRIP) in Venezuela, Joselit Ramírez, has appeared on national radio to encourage people to use the Venezuelan state-backed crypto asset, the petro.

Venezuela bitcoin trading hits all-time high amid insane 1,000,000% inflation projection

The number of Venezuelan Bolivars that were exchanged for Bitcoin last week hit a new all-time high as the International Monetary Fund (IMF) projected that Venezuela will experience the world’s highest inflation rate in 2019.

Venezuela Turned Airport Taxes Into Bitcoin to Avoid Sanctions: Report

Venezuelan President Nicolás Maduro and his administration appear to be leveraging tax revenue and cryptocurrencies as part of a broader effort to evade economic sanctions, an investigation by Spanish newspaper ABC has found.

10,000,000% Inflation Causes Venezuela’s Bitcoin Volume to Explode to a New Record

President Trump launched a fresh set of sanctions against the Venezuelan bank. The sanctions and other economic crisis have resulted in super-high inflation that recently topped 10,000,000%. The move made it difficult for users to mobilize their money for economic purposes. However, President Maduro has turned to cryptos to salvage his country from the turmoil.

Venezuela to ditch Visa & Mastercard by early 2020

The central bank of Venezuela will develop an independent national payment system to get rid of international giants Visa and Mastercard in response to US sanctions, according to local media citing the regulator.

Coinbase-Backed Stablecoin Startup Reserve to Launch ‘Venmo Style App’ in Venezuela

Stablecoin project Reserve announced that it will launch a crypto-fiat payments app in Venezuela and Angola in a press release shared with Cointelegraph on May 12. In the same announcement, the firm revealed that it is listing its separate utility token, Reserve Rights (RSR), on major exchange Huobi Global’s token sale platform, Houbi Prime.

Venezuela president urges investors to buy Petro as citizens prefer bitcoin

The president of Venezuela has issued an open call for foreign investors to buy up the country’s notorious state-issued cryptocurrency, despite international sanctions.

Campaign to Raise $1 Mln in Crypto for Venezuelans Registers 60,000 Beneficiaries

A charitable campaign to enable the direct transfer of $1 million in crypto donations to Venezuelans has registered around 60,000 verified beneficiaries and raised $272,000 to date. The news was revealed in an interview with the campaign’s leader, Steve Hanke, with National Public Radio on April 21.

Dash CEO claims "Bitcoin (BTC) won't survive long-term"

Dash CEO Ryan Taylor recently gave an interview to online crypto magazine Breaker. He discussed the increasing importance of DASH to the Venezuelan economy, and also explained his "hypothesis", that "Bitcoin won't survive long-term".

Mayor of Chicago: Facing Financial Crisis, Crypto Adoption is Inevitable

According to a report in Forbes, Rahm Emanuel, the Mayor of the City of Chicago, has stated that he sees crypto adoption as inevitable. He bases his outlook on the growing appeal of Bitcoin and other digital assets in an increasingly unstable geopolitical world.

Venezuelan Economist: Cryptocurrency Is ‘Good’ Money, Bolivars Are Not

The adoption of cryptocurrencies in Venezuela, first due to hyperinflation and later due to dollarization, could come to play a role in the country’s economic rebuilding.

Venezuelan Government Launches Crypto Remittance Service

The government of Venezuela has begun offering a cryptocurrency remittance service. Remittances can be sent using two types of cryptocurrency. The service was launched by the Superintendency of Cryptoassets and Related Activities, the country’s main crypto regulator, which has also set a monthly limit and a commission per transaction.

Venezuela’s Socialist Establishment Bares its Ugly Fangs with Parasitic Crypto Tax

After years of hiding behind the fig leaf of socialism and revolutionary anti-imperialist rhetoric, the embattled Venezuelan government of Nicolas Maduro has shown its true colours with a new 15 percent tax on cryptocurrency transactions that may be best described as opportunistic, if not an act of outright tyranny.

Venezuela Announces Set of Regulations for Cryptocurrencies and Blockchain Tech

Venezuela seems to be eager to become a country where the activities related to the use of cryptocurrencies and blockchain technologies are fully regulated and to that end, it announced a few hours ago the promulgation of a “CONSTITUENT DECREE ON THE INTEGRAL SYSTEM OF CRYPTOASSETS“.

Venezuela Calls US Sanctions Against Its Petro Cryptocurrency ‘Discriminatory’

Venezuela is pushing back against U.S. sanctions before the World Trade Organization, including ones imposed against its controversial cryptocurrency efforts.

Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies

The Venezuelan government has published a decree requiring taxpayers with crypto operations in the country to pay their taxes in cryptocurrencies. Similarly, operators of foreign currencies must pay their taxes in those currencies. The decree states that the change is necessary for the “strengthening of the current fiscal regime.”

Indian Cryptocurrency Exchange in 45 Countries Sees Strong Demand in Venezuela

An Indian cryptocurrency exchange, which is now live in 45 countries, reports that it is “seeing immense enthusiasm and buyer activity in Venezuela,” a spokesperson for the exchange told news.Bitcoin.com. Compared to other countries, “Venezuelans are looking more at the longer-term yield of bitcoin.”

Dash Aids Venezuelan Adoption As 66,000 KRIP Phones Sold in 4 Months

Dash has recorded yet another adoption milestone driven by special circumstances in Venezuela, with the sale of more than 66,000 KRIP mobile phones that are designed with special cryptocurrency enhancements optimised for the Dash ecosystem. According to the company, from launch in August 2018 to present, the vast majority of the devices have been sold in Venezuela, making it by far the world’s biggest market for the cryptocurrency-enabled phones.

Report: Venezuela Is Forcibly Converting Pension Balances to the Petro

Venezuela has reportedly begun converting pensioners’ monthly payments into its controversial cryptocurrency, the petro.