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Venezuelan Buys Apartment Using Tether as Real Estate Market Warms Up to Crypto
17.8.2021
A Venezuelan individual has reportedly purchased an apartment using cryptocurrency, specifically Tether, in the coastal state of Anzoategui last month. This is one of the first purchases of real estate with crypto that has been recorded in the country, but more properties are listed as accepting...
Kidnappers Kill Venezuelan Citizen for Not Paying Ransom Requested in Bitcoin
14.8.2021
A Venezuelan merchant was kidnapped and killed after his family failed to gather a ransom that kidnappers explicitly asked to be paid in bitcoin. The perpetrators asked for a sum of 1.5 bitcoin to release the hostage, later lowering the ransom to 0.5 bitcoin. The family of the victim finally...
Disconnected Venezuelan Bitcoin Miners Might Resume Operations in 48 Hours
13.8.2021
A group of Venezuelan Bitcoin miners that were disconnected from the power grid by regional authorities in the state of Carabobo might resume operations in the next 48 hours, according to the national cryptocurrency watchdog, Sunacrip. The institution met with affected miners on Wednesday...
Venezuelan Authorities Shut Down Power Supply to Bitcoin Miners in Key State
10.8.2021
Regional authorities in one of the key states of the country, Carabobo, suspended the power supply of all registered miners, effectively shutting down their operations in the industrial state. While there have been no official explanations for this measure, some people with knowledge on the matter...
Binance Enters Popular Venezuelan Dollar Indexes as Currency Plunges 10% in One Week
20.7.2021
Binance, the leading P2P exchange in Venezuela, is now present in several popular dollar indexes in the country. The price of USDT on Binance’s P2P platform is now used to calculate the average price of the dollar with other P2P and electronic markets. The Venezuelan currency, the Bolivar...
Venezuelan Minimum Wage Reaches $3 as More Venezuelans Take Refuge in Cryptocurrencies
5.5.2021
The president of Venezuela, Nicolas Maduro, approved a minimum wage raise increase last week that took it to three dollars monthly, a very low income for the citizens of the country that are facing a strong economic crisis since 2013. However, the crypto environment has been growing, and...
Venezuelan Crypto Regulator Sunacrip Strengthens AML/KYC Requirements for Virtual Asset Service Providers
3.5.2021
Sunacrip, the Venezuelan cryptocurrency watchdog, has recently published a new set of AML/KYC requirements for VASPs (Virtual Asset Service Providers) that establishes new and updated rules about the kind of information these providers must require and share with the Venezuelan government, raising...
Venezuelan Programmer Who Created the Petro Token Regrets Participating in the Project — Works on an Alternative Token
29.4.2021
Venezuela’s government-backed cryptocurrency is not having the acceptance its cabinet expected, as the latest reports suggest. The petro’s creator, who now lives in exile, wants to build another crypto that gets the adoption its original creation did not in the nation. Jiménez...
Major Venezuelan Aviation Academy Enables Bitcoin Payments as Crypto Adoption Keeps Rising in the Country
28.4.2021
A leading Venezuelan aviation academy announced its inception into cryptocurrency adoption after enabling bitcoin payments. Caracas Air is now accepting crypto payments for those who want to take any of their courses. Academy Started Its Operations in 2015 According to the announcement made by...
Venezuelan Guards Seize 76 Bitcoin Mining Rigs Due to ‘Inconsistencies’ in Transport Documents
13.4.2021
The Bolivarian National Guard of Venezuela (GNB) is known for having a tough stance against crypto mining rig counterfeits, as several operations have been assigned to combat the issues over the last few months. This time, the Venezuelan authorities seized 76 mining rigs after allegedly detecting...
Major Venezuelan Satellite TV Provider Enables Bitcoin and Other Cryptocurrencies Payments
30.3.2021
Venezuelan customers from the biggest satellite TV provider in the country are now able to pay their monthly bills via cryptocurrencies. Simple TV announced it had enabled the feature to its over four million users, whose company was the replacement of Directv. Company Expects to Cut Dependency...
Colombian Cryptocurrency Project Kmuschicoin Gains Popularity as Adoption on Local Stores Grows
11.3.2021
A Colombian entrepreneur has joined forces with a Venezuelan teenager to launch a cryptocurrency in Boyacá, Colombia. The region is now known in the local crypto industry as the home of the most popular emerging local crypto in the country. Over 5,000 People From Other Countries Currently Hold...
Venezuelan President Maduro Promises 2021 Will Be the Year to Boost Usage of Petro
16.1.2021
The Venezuelan president, Nicolás Maduro, has claimed that 2021 will be the year of the state-backed petro (PTR) token. He also promised to boost a “100% national digital economy” agenda through a “complete digitalization process.” 77% of Trade Transactions in Venezuela...
Venezuela’s Asonacrip: Bitcoin Bull Run Could Help Boost Usability of Cryptos Such as Petro
22.12.2020
The president of the National Association of Cryptocurrencies of Venezuela (Asonacrip) praised the recent bull run seen in bitcoin’s prices across the board, which “favors the usability of a very novel crypto asset,” such as the petro (PTR). Petro Is Gathering Strength Due to...
Millions of Venezuelans Voted via Blockchain in an Unofficial Anti-Maduro Referendum
17.12.2020
An unofficial referendum pursued by the Venezuelan opposition leader Juan Guaidó took place over the weekend in Venezuela powered by a blockchain platform, while at the same time, parliamentary elections called by the president Nicolás Maduro also had its scenario in a widely criticized...
Venezuelan Government Signs Agreement to Establish Guidelines for Granting Licenses to Crypto Miners
11.12.2020
The National Superintendency of Crypto Assets (Sunacrip) and the National Electricity Corporation of Venezuela (Corpoelec) signed an agreement to establish guidelines to “improve the development” of bitcoin and other crypto mining activities across the country. Venezuelan Government...
Venezuelan Crypto-Friendly Freelancing Platform Emerges Amid Economic Crisis, US Sanctions
10.12.2020
More cryptocurrency solutions keep appearing on the scene for Venezuelan residents as U.S. sanctions weigh on Nicolás Maduro’s government, including heavy restrictions on the circulation of foreign exchange transactions, driving people to find on crypto a way to circumvent such hurdles...
Venezuela Pays for Imports From Iran and Turkey With Bitcoin to Evade Sanctions
9.12.2020
Venezuela is reportedly paying companies in allied countries, including Iran and Turkey, with bitcoin to mitigate the effects of U.S. sanctions on its economy. The Venezuelan government is also planning to increase bitcoin usage now that it has a dedicated cryptocurrency mining center. Venezuela...
Venezuelan army starts mining Bitcoin to make ends meet
30.11.2020
The Venezuelan army turns to crypto mining as the country's economy collapses
Venezuelan Army Starts Mining Bitcoin for ‘Unblockable Income’
30.11.2020
The Venezuelan Army has inaugurated a cryptocurrency mining center with bitcoin mining equipment aimed at generating “unblockable income,” as the country attempts to bypass U.S. sanctions. The crypto mining center has the support of the country’s crypto regulator, Sunacrip....