Venezuelan President: The country needs to get back on the path of cryptocurrency

2024-09-03 20:55:41

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ChainCatcher news, according to Bitcoin.com, Venezuelan President Nicolás Maduro discussed the future development of the national cryptocurrency system following the so-called PDVSA-Crypto program. This program resulted in a $20 billion loss in unaccounted oil sales, which were paid for with cryptocurrency. Maduro stated that the country needs to get back on the path of cryptocurrency, but did not mention whether the national cryptocurrency asset—Petro—would be restarted.

Venezuela may potentially adopt a more cryptocurrency-friendly stance in the future. President Maduro's latest statement during a meeting with banking representatives hinted that the country would reconsider the role of cryptocurrency within its borders, following several measures that affected trading platforms and mining plans.

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