# Venezeula News

Venezuelan Authorities Mandate Local Banks to Integrate Oil-backed Petro Cryptocurrency

August 30, 2018 by Ogwu Osaemezu Emmanuel at Adoption, Altcoins, Finance, News, Regulation

Venezuela's President Nicolas Maduro and his cabinet are determined to liberate the nation from the age-long economic crisis that has plagued the region, with its native digital currency the Petro. Per a France 24 report on August 28, 2018, authorities have ordered local banks present in the region to adopt...

Exploring a Fedcoin and Other State-Backed Cryptocurrencies

June 15, 2018 by Rahul Nambiampurath at Altcoins, Bitcoin, Blockchain, Finance, News, Tech

While bitcoin and other cryptocurrencies were built to rival fiat currencies issued by centralized institutions, they have now become more popular as an investment tool rather than a payment method. Recognizing this emerging market, legacy financial institutions are now contemplating taking their first step in the world of cryptocurrencies. Several...

Venezuela Bans Imports of Cryptocurrency Miners

May 31, 2018 by Shaurya Malwa at Altcoins, Bitcoin, Ethereum, Mining, News, Regulation

Despite Venezuela’s proactive stance on cryptocurrencies, the country’s international shipping companies passed an official measure on May 29, 2018, stating that cryptocurrency mining equipment will no longer be on the list of “approved shipping items.” Creating Borders in a Borderless Ecosystem According to local reports, the Venezuelan customs authorities would...