The UK, France, Germany, Spain and other European countries have officially recognised opposition leader Juan Guaidó as interim president of Venezuela. It comes after President Nicolás Maduro defiantly rejected a deadline they set for Sunday to call fresh elections. Mr Guaidó declared himself interim leader last month and won US backing. Russia – a backer […]

Venezuela’s President Nicolás Maduro has dismissed calls for new presidential elections amid fresh protests against his leadership. In a show of defiance, he insisted his victory in polls last spring had been legitimate. Opposition leader Juan Guaidó declared himself interim president last week, prompting an escalating power struggle. In an interview with a Russian news […]

Spain, Germany, France and the UK have warned Venezuelan President Nicolás Maduro that he must call elections within eight days – or they will officially recognise the opposition. Mr Maduro is under pressure after his rival Juan Guaidó declared himself “acting president” on Wednesday. Several countries, including the US, already back Mr Guaidó as president. […]

Russia has condemned foreign powers for backing a Venezuelan opposition leader who declared himself interim president, calling it a bid to “usurp power”. Moscow said that the move violated international law and was a “direct path to bloodshed”. Juan Guaidó declared himself interim leader on Wednesday – a move recognised by the US and several […]

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 […]

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 […]

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 […]

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 […]