Tag: PETRO

  • Cameroon Separatists Create Cryptocurrency Called AmbaCoin

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    A separatist government in Cameroon’s semi-autonomous English-speaking southern region of Ambazonia has announced the launch of a new sovereign cryptocurrency called AmbaCoin (AMBA). Operating on the ERC-20 standard, AmbaCoin is being touted as the official currency of the “Federal Republic of Ambazonia,” the currently unrecognised country that separatists are pushing to actualise. QZ Africa reports that more than […]

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  • Venezuela Starts Converting Pensioners’ Payments to Crypto ‘Petro’: Report

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    The government of Venezuela has reportedly started converting pensioners’ monthly payments from the country’s fiat currency, the bolivar, to its oil-backed cryptocurrency Petro, without giving them a choice. According to the Caracas Chronicles, a politics and economics-focused website based in Venezuela, the country’s pensioners are notified every time their monthly payments arrive, but this time received […]

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  • Venezuela Officially Launches Sale of Controversial Petro Coin for Fiat, Crypto

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    Venezuela’s controversial state-owned cryptocurrency the Petro is now available for purchase for fiat and crypto, Venezuelan Economy Department announced on Twitter Monday, Oct. 29. According to an infographic included in the tweet, Petro can now be purchased directly from the country’s treasury via the coin’s official website or from six crypto exchanges authorized by the government. The state-issued coin can be purchased […]

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  • Venezuelans Must Now Pay Passport Fees with the Government’s Petro Cryptocurrency

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    Starting next week, Venezuelans will have to pay their passport fees with the petro, the controversial state-supported cryptocurrency that is allegedly backed by oil. This was announced in a press conference on Friday, Oct. 5, by the country’s vice president, Delcy Rodriguez, ahead of the coin’s official launch in November. This follows a similar press release by President […]

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  • Venezuela Mandates Passport Fees Must Be Paid in Controversial Cryptocurrency Petro

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    Venezuelans can only use the state-backed cryptocurrency, the Petro, to pay for passport fees starting next week, the country’s vice president Delcy Rodriguez said in a press conference Friday, Oct. 5. Ahead of Petro’s official “launch” in November, Rodriguez confirmed that as of Monday, Oct. 8, fees for all passport applications will only be payable in Petro, and will cost an […]

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  • Public Sale of Venezuela’s State Crypto Petro to Commence on November 5

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    With the Petro now officially launched, the public sale of the state-backed cryptocurrency will begin early next month. In a televised address on October 1 during Venezuelan president, Nicolas Maduro announced that the public sale of the Petro will kick off on November 5. Though he did not list names, Maduro also indicated that the state-backed cryptocurrency is currently […]

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  • ‘No Sign of the Petro Here’: Mystery and Confusion Besets Venezuela’s Crypto ‘Revolution’

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    Reuters has today, August 30, published an investigative report into Venezuela’s national oil-backed cryptocurrency, the Petro (PTR), attempting to square government claims with facts on the ground and evidence of the Petro’s transaction history to date. Reuters dispatched reporters to the central Venezuelan hamlet of Atapirire, which sits at the heart of the 380-square-kilometer territory […]

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  • Interview: Bitcoin Venezuela on Why the Petro Cryptocurrency Isn’t Even ‘Backed by Trust’

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    Randy Brito is the head of Bitcoin Venezuela, a non-profit organization dedicated to educate and promote Bitcoin in Venezuela. He is also spearheading the Locha project, which he describes as “an effort to push the needed developments and research for achieving the hyperbitcoinization in Venezuela.”  Brito also sees a use case for bitcoin in countries […]

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  • Venezuela Looking to Launch a Central Bank for Cryptocurrencies

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    Venezuela is reportedly looking to launch a central bank for cryptocurrencies, as the country’s National Constituent Assembly is preparing to reform the Venezuelan Constitution to include it, along with a court above its Supreme Court. According to Reuters, information on the development was provided by Hermann Escarrá, which the outlet describes as “one of the most […]

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