Venezuela’s new crypto bill, which establishes а legal framework for the industry, officially came into force on Jan. 31. The decree was published in the government’s official media outlet, Gaceta Oficial. The set of rules for miners, crypto entrepreneurs and regular traders was initially approved by Constituent National Assembly — an alternative to the country’s […]

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 […]

KFC in Venezuela is accepting payments using the cryptocurrency Dash starting this week, joining a growing list of fast-food chains that accept crypto in Venezuela, including Subway and the Papa John’s pizza chain. KFC will initially roll out the program at its store in the Venezuelan capital of Caracas before expanding to 24 other locations across […]

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 […]

The amount of Venezuelan bolivars being spent to purchase bitcoin has risen to record levels as the South American country experiences unprecedented hyperinflation and a worsening economic crisis. Per Coin Dance, bitcoins worth nearly 900 million bolivars have been traded so far this week in Venezuela, and this is already higher than last’s week volume of slightly over […]

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 […]