Venezuela Shuts Down Crypto Mining Operations
Rebeca Moen Mar 27, 2023
VENEZUELA
Description
The government of Venezuela has issued its cryptocurrency Petro in Feb 2018. According to the government, Petro is backed by oil and mineral reserves, as to support the depreciating Venezuelan bolivar currency.
Venezuelan president Nicholas Maduro has actively pushed for the adoption of Petro. The Venezuelan government is determined to take the coronavirus pandemic as an opportunity to boost the adoption of its national cryptocurrency in the country. The government announced this new campaign through its social media accounts, as a token of appreciation of efforts of the nation’s doctors to combat COVID-19.
The government of Venezuela has issued its cryptocurrency Petro in Feb 2018. According to the government, Petro is backed by oil and mineral reserves, as to support the depreciating Venezuelan bolivar currency.
Venezuelan president Nicholas Maduro has actively pushed for the adoption of Petro. The Venezuelan government is determined to take the coronavirus pandemic as an opportunity to boost the adoption of its national cryptocurrency in the country. The government announced this new campaign through its social media accounts, as a token of appreciation of efforts of the nation’s doctors to combat COVID-19.