The government of Venezuela has issued its cryptocurrency Petro in Feb 2018. According to the government, Petro is backed by oil and mineral reserves, as to support the depreciating Venezuelan bolivar currency.

Venezuelan president Nicholas Maduro has actively pushed for the adoption of Petro. The Venezuelan government is determined to take the coronavirus pandemic as an opportunity to boost the adoption of its national cryptocurrency in the country. The government announced this new campaign through its social media accounts, as a token of appreciation of efforts of the nation’s doctors to combat COVID-19.
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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Paxful has withdrawn its crypto trading services from Venezuela after the country was classified as high-risk by the Office of Foreign Assets Control (OFAC).
China's Crypto Adoption is Ahead of the US, According to Chainalysis’ On-Chain Metrics
Chainalysis recently published a report on the global adoption of cryptocurrencies and found that China is ahead of the US on the list.
Why Did Venezuela Block Citizens’ Access to Coinbase Crypto Exchange?
Venezuela has blocked access to Coinbase crypto exchange and MercaDolar fiat remittance platform, but why?
Chainalysis: Venezuela’s State-Owned Crypto Exchange Possibly Used by Maduro Regime to Launder Funds
Blockchain analysis company Chainalysis wanted to find out whether the claims of whether Petro aiding Venezuelans are true.
Venezuela Wants Citizens to Pay Taxes in State-Issued Petro Cryptocurrency
Venezuela is moving on a mandate that could see taxes being collected using its state-issued cryptocurrency—the oil-backed Petro. The effort is part of a nation-wide campaign to create mainstream use cases for Venezuela’s cryptocurrency.
US Government Offers $5 Million Reward for the Arrest of Venezuela’s Head of Petro Cryptocurrency
US Immigration and Customs Enforcement (ICE) has added Venezuela’s head of Petro cryptocurrency agency, Joselit Ramirez, to its most wanted person’s list. The US government seeks to offer a $5 million reward for information leading to Ramirez’s arrest.

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