VENEZUELA
Venezuela's Petro Cryptocurrency to Cease Operations
Venezuela ends its Petro cryptocurrency, a failed oil-backed digital currency initiative aimed at evading U.S. sanctions. Launched in 2018, it struggled for adoption due to legal issues, limited functionality, and lack of international interest.
Crypto Adoption in Latin America: A Tool Against Economic Woes and Authoritarianism
The cryptocurrency landscape in Latin America, particularly in Argentina and Venezuela, is evolving as a mechanism to counter economic and political adversities. While Argentina sees crypto as a bulwark against economic instability, Venezuela is utilizing it as a tool for humanitarian aid and resistance against authoritarianism. The divergent crypto adoption narratives in these nations underscore the asset class's potential to address complex societal challenges.
Bitfinex Unveils Zero-Fee P2P Trading in Argentina, Colombia, Venezuela
Bitfinex has initiated a zero-fee trading feature for market takers on its Peer-to-Peer (P2P) platform in Argentina, Colombia, and Venezuela as of October 11, 2023. This move comes post the recent extension of the P2P service to these regions, aiming to reduce transaction costs, enhance liquidity, and encourage crypto trading. Users can access this facility by logging into their Bitfinex accounts and selecting the P2P option.
Venezuela Shuts Down Crypto Mining Operations
Venezuela has closed down crypto mining facilities as part of a national crypto department reorganization and corruption investigation into the country's oil company, PDVSA.
Twitter Account of PwC Venezuela Gets Hacked
The Venezuelan arm of the giant accounting firm, PwC Venezuela was under attack as its official Twitter page has been displaying a phishing link to a fake XRP token giveaway.
Venezuela’s Main Airport to Accept Cryptos as Payment for Flight Tickets & Services
Freddy Borges, a director at Simon Bolivar International Airport, said that the airport would accept Dash, Petro alongside Bitcoin for ticket purchases and for other flight services.
Venezuela to Launch its Central Bank Digital Currency in October
The Central Bank of Venezuela officially announced to launch central bank digital currency (CBDC) in October this year.
US Government Plans to Use USDC Stablecoin to Offer Foreign Aid in Venezuela
U.S government has tapped Circle’s USDC stablecoin to offer foreign aid in Venezuela through President-elect Juan Guaidó exiled government.
Lebanon Considers a Central Bank Digital Currency for 2021
The Governor of The Central Bank of Lebanon Riad Salameh has revealed the possibility of the bank launching a digital currency by 2021.
Paxful Exits Venezuela’s P2P Crypto Bitcoin Market Following US Sanctions
Paxful has withdrawn its crypto trading services from Venezuela after the country was classified as high-risk by the Office of Foreign Assets Control (OFAC).