The U.S. might prohibit Visa, Mastercard and other financial institutions (FIs), such as SWIFT, from processing transactions in Venezuela. Citing a senior Trump administration official, Reuters reported that if the move is finalized, it would target the elite and groups loyal to President Nicolás Maduro, including...
The launch of a new payment system in Venezuela hasn’t gone smoothly, with citizens facing long lines for gasoline in border states. According to Reuters, President Nicolas Maduro has claimed that the new system will reduce the smuggling of fuel, as well as lead to...
As Venezuela struggles with hyperinflation and its currency reaches record lows, the country has reportedly sold $735 million of its “petro” cryptocurrency during day one of its presale. Yet Venezeula’s President, Nicolas Maduro, did not present evidence backing up that figure — or offer details...
Venezuelan President Nicolas Maduro has vowed to back the national cryptocurrency, Petro, with the country’s natural resource reserves. According to RT, Maduro made the announcement on national television, showing a document “formalizing the provision of the certified Ayacucho oil field No.1 in the Orinoco Petroleum...
April 29, 2024
Venezuela is reportedly expected to increase its use of cryptocurrency when the United States reimposes oil sanctions on the country beginning June 1. A Venezuelan opposition politician, Leopoldo Lopez, and a national security leader at New York-based blockchain data firm Chainalysis, Kristofer Doucette, released a report Monday (April 29) saying that democratic governments should set up structures to […]
March 15, 2019
The U.S. might prohibit Visa, Mastercard and other financial institutions (FIs), such as SWIFT, from processing transactions in Venezuela. Citing a senior Trump administration official, Reuters reported that if the move...
September 05, 2018
The launch of a new payment system in Venezuela hasn’t gone smoothly, with citizens facing long lines for gasoline in border states. According to Reuters, President Nicolas Maduro has claimed...
December 29, 2017
Venezuelan President Nicolas Maduro has vowed to back the national cryptocurrency, Petro, with the country’s natural resource reserves. According to RT, Maduro made the announcement on national television, showing a...
